Years
On the increased tariff, China said that we are not afraid of trade war with America. Meanwhile, China has deployed a new international trade representative as Lee Chenggang. Kadam was raised after Trump’s statement in which the US President said that China is now responsible for ending the tariff deadlock.
By speeding up tariff war, the US has imposed 100% tariff on China. Along with this, a total of 245% tariffs will be levied on Chinese goods reaching America. Earlier, China had imposed a 125% tariff on American goods and refused to take the vorn aircraft despite the deal. Unhappy with this, America has increased the tariff. On the increased tariff, China said that we are not afraid of trade war with America. Meanwhile, China has deployed a new international trade representative as Lee Chenggang. Kadam was raised after Trump’s statement in which the US President said that China is now responsible for ending the tariff deadlock.
Who will be harmed by tariff
American Federal Reserve Chairman Jerome Powell has warned that the new tariff of President Donald Trump will cause huge loss to the US economy and the common people will have to face the prices of goods. Talking to the BBC, Powell said that import tax (tariff) is more than the Federal Reserve estimate, which can push the economy into a deeper crisis. In the survey too, people and business are scared about the health of the economy.
The announcement of investigation on import of important minerals by the Trump administration has increased the concerns of Tariff War again. Britain’s FTSE 100 declined 0.3%, DAX of Germany 0.7% and France’s CAC 40 declined by 0.5%. Despite China’s economic growth of 5.4% in the first quarter, Hong Kong’s Hang Sen fell 1.9%. Shanghai Composite increased 0.3%. Nikkei of Japan dropped 1% and KOSPI of South Korea 1.2%. Australia’s S&P/ASX 200 closed down with a slight decline.
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