NEWS

The Trade War between China and US

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Mr. Trump has announced that since September 24, US will impose a 10% tariffs on 200 billion USD of the products, which Chinese exports to the United States; Since January 1, 2019, tariffs will increase to 25%. At the same time, the US threatened that if China retaliated against industries such as agricultural products, the United States would immediately implement a more aggressive tariff levy and impose tariffs on imports of about $267 billion.

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The tariffs on $200 billion worth of products comes on top of the $50 billion worth already taxed earlier this year, meaning nearly half of all Chinese imports into the United States will soon face levies. The next wave of tariffs, which are scheduled to go into effect on Sept. 24, will start at 10 percent before climbing to 25 percent on Jan. 1. The timing of the staggered increase will partially reduce the toll of price increases for holiday shoppers buying Chinese imports in the coming months.

In response, China’s Ministry of Commerce said:” In order to safeguard our legitimate rights and interests, the global free trade order, China will have to fight against it simultaneously. ”

There are two measures: The first one, adding tariffs on imports of approximately $60 billion from the United States, tax rates ranging from 5% to 10%; Second, add to the WTO lawsuit against the United States under the 301 investigation of $200 billion imports into China.

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