Trade war between USA and China is on. Pictures of the Reuters file
Trade war between USA and China is on. Reuters files picture
Trump administration is going to increase the tariff of $ 200 billion Chinese products from 10 percent to 25 percent. A source that knows about the issue has confirmed CNN.
Bloomberg released the news firstly.
According to the source, this step, which has not yet been finalized and can change, has begun due to the stalemate in the trade war between the United States and China. The talks between the US and Chinese officials have not made any progress in tension.
The United States already charges 25 percent of the Chinese products worth 34 billion dollars. As a counter-exchange, China charges tariffs at an equivalent price of US products.
This week, the customs duty of 16 billion dollar worth of products will be effective.
US Trade Representative Robert Lithahaijaar can be imposed on 10 percent of the prior tax-linked list of more than 200 billion dollars worth of Chinese exports. The list included fruit and vegetables, handbags, refrigerators, rain jackets and baseball plaques.
The tariff, which can now be rampant, is likely to be effective by September.
