The United States has levied tariffs of worth $112bn on Chinese imports to the US while China has put tariffs on US crude oil in retaliation. The latest announcement is the first round of President Donald trump strategy to implement 15% duties on Chinese imports of worth $300bn at the end of 2019.
If President Trump’s plan fully implemented then it all Chinese imports will become the target of US punitive tariffs. The US-China trade war started with accusations over allegedly unfair trade practices by Beijing. Washington implemented tax on $250bn of Chinese products to force China to change its unfair trade practices. However, China refused any involvement and levied $110bn worth tariffs on US products.
World businesses are deeply affecting with the long-lasted dispute and are dismissing the chances of any deal between the two largest economies. Huawei ban and Hong Kong protests further have further made it harder to bridge the gulf of soar relations.
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