- Trade talks are continuing between the two countries, but Trump said – China is not showing up fast
- Impact of Trump announcement – Major stock markets worldwide declined
- In May, the US raised the tariff on Chinese import of $ 250 billion to 25% from 10%
Washington. US President Donald Trump said on Thursday that besides $ 300 billion (Rs 21 lakh crore), Chinese import will impose a 10% tariff (import tariff) on September 1. The negotiations between the two countries started this week for settling trade disputes. Meanwhile Trump announced a new fee. This has led to a fall in major global markets including the US.
Trump said – China will continue to tax until the deal is over
Trump said that China should now change its years old attitude. Through tariff, he is taking advantage of billions of dollars every year from the US. If they do not want to continue business with us then it is good. We will have a lot of benefits. Earlier in May, the US had increased the duty on import of China’s 250 billion dollars from 10% to 25%.
US President has claimed that imposing tariff on China will not increase inflation in the US. Trump said – our consumers will not be affected but will be harmed to China. A day before the announcement of Trump, US officials had returned from Beijing. He said that talks with China will continue. The next meeting will be held in September. But, Trump said that until the deal is done, we will recover tax from China. President Xi Jinping is not showing up there.
Trade war is going on between US-China from March last year. Both countries have charged the billions of dollars of each other. Talks started in November last year, but broken in April this year. The talks started again in G20 when Trump and Jinping met, but Trump says they can not wait till the deal is over.