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US President Trump
China has announced it will impose a 34% tariff on imported US goods in addition to existing tariffs in response to similar moves by the United States, in the latest escalation in trade tensions between the two countries.
The Chinese tariff will be effective from April 10, according to the State Council, China’s cabinet.
The retaliation comes in the wake of the 34 per cent tariffs imposed on Chinese goods by the United States on Wednesday, South China Morning Post reported.
The swift response suggests that Beijing is going to play tough, instead of entering into negotiations with the US.
Earlier, US President Donald Trump indicated that he was willing to cut a deal in exchange for Beijing’s approval to sell social media company TikTok.
As part of the retaliatory measures, Beijing has put export controls on 16 American companies and suspended the eligibility of six US-linked companies from exporting to China. (Mehr News Agency)
