Trade War: US Raises Tariffs On Chinese Goods

The United States has escalated its tariff war on China, by increasing levies to 25 per cent for $200 billion worth of Chinese goods in the midst of last-ditch talks to secure a trade deal.

Negotiations started on Thursday between a Chinese delegation led by Vice Premier Liu He and US negotiators led by Trade Representative Robert Lighthizer.

Trump’s administration had accused Beijing of defaulting on commitments made during earlier trade talks.

Speaking at a rally in Florida on Wednesday, Trump said China “broke the deal”

Reports, however, claim that China has been a frequent target of Donald Trump’s rage, with the US president condemning trade imbalances between the two countries and Chinese intellectual property rules, which he says shamble US companies.

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According to BBC, tariffs will increase on $200bn of Chinese goods from 10 per cent to 25 per cent on Friday. China promises to retaliate but has not offered specifics on possible countermeasures.

 

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