Economic Reporter China has responded to US steps by imposing a maximum of 25 percent duty on imported US products. Due to the imposition of duty imposed on Monday, it will affect the import of $ 300 million.
US President Donald Trump has increased tariffs on steel and aluminum imported from abroad earlier this month. China has imposed a duty on 128 products including imported pork and wine from the United States. Among the products imposed by the customs, there are several types of nutmeg, dried fruits, steel bars, etc. imported from the United States. Formula bbc.
Beijing has said that this step has been taken for the protection and balance of the Chinese interests because of the loss of the US due to the new tariff imposed. But China does not want trade warfare, it has already told Beijing. But if their economy is damaged, they will not be sitting.
On the other hand, Trump called the trade war "good" and claimed that it would win the 'easy' US.
The US authorities have already announced plans to set up tariffs on imported Chinese and Chinese products worth thousands of crores of dollars. The US authorities are being harmed for unfair trade practices in China, which is why these steps have been taken by the US authorities.
But the possibility of more counter-measures in the wake of US action increased. Thus, counter-steps are expected to turn into a trade war.