Washington3 minutes ago
- Copy link
On April 11, China imposed 125% tariff on American goods, in response to which Trump threatened to impose 245% tariff.
US President Donald Trump has deferred the decision to impose extra tariffs on China again for 90 days. On Monday, Trump signed an executive order to extend the US-China tariff deadline by 9 November.
Earlier, there was a trade deal between the US and China in Geneva on 11 May. It agreed to postpone the decision to increase the tariff for 90 days. The US has currently put 30% tariff on China.
A long tariff war ran between the US and China. Trump threatened to impose tariffs up to 245% on China. In response, China said to impose 125% tariffs. However, this did not apply after the Geneva Trade Deal.
In a press conference on Monday before increasing the deadline, Trump was asked to increase the tariff on China. They said,
Let’s see what happens. They are working very well. My and President Jinping’s relationship is quite good.
US Vice President said- it was difficult to impose tariffs on China
On Monday, US Vice President JD Vance said on the question of imposing more tariffs on China that taking such a step can be more difficult and harmful. In an interview to Fox News, Vance said that the idea of imposing tariffs on China is going on, but no firm decision has been taken yet. Read full news …
Chinese GDP falls to 1% due to increase in tariff
America’s high tariff on China will directly affect its export and industry. China exports goods worth more than $ 500 billion (Rs 43 lakh crore) to the US. Brands like Apple produce massive production in China. They will have to face inflation.
According to a report by the Financial Times, China’s economic impact has been limited despite America’s broad tariff measures. If the tariff rate increases, it can reduce China’s GDP to 1%.
Trump’s senior advisor Peter Navarro had earlier said that China would be imposed more tariffs, it is less likely. He warned that doing so could also harm America.
America imposed extra tariff on India
US President Trump announced to impose 25% extra tariffs on India by arguing to buy oil from Russia last week. After this, the total tariff on India increased to 50%. The extra tariff will be applicable from August 27.
India strongly criticized this decision and called it wrong. India’s Foreign Ministry said that its oil import is completely fixed according to the market and it is necessary to meet the energy needs of its 1.4 billion people.
Last month, Trump also threatened to impose 100% tariff on Russia. Trump said in July that if Moscow does not deal with Ukraine within 50 days, he would apply 100% tariffs on Russia. Apart from this, secondary tariffs will also be imposed on countries buying oil from Russia.
——————————–
Read this news too …
India prepares to apply counter tariffs on America: Some American products can impose up to 50% tariffs
The US has imposed 50% tariff (import duty) on Indian steel, aluminum and many products. According to the report of Hindustan Times, now in response to this, India is also considering imposing up to 50% tariff on selected American products. Read full news …
Source link
[ad_3]
