Responding to the USA’s two-staged implementation of tariffs on $300 billion of Chinese goods, the Chinese commerce ministry has announced retaliatory tariffs against around $75 billion of US goods. This dispute between the top two economies of the world means an additional 10% on top of existing rates for US goods in China, while tariffs on Chinese goods like consumer electronics have also been increased by the US. Included in the list of 5,078 American items issued by the Chinese commerce ministry are agricultural products, light aircraft, crude oil as well as cars and car parts.
For more: https://www.theguardian.com/world/2019/aug/23/china-puts-75bn-retaliatory-tariffs-us-goods-trade-war
This post has been authored by Naibedya, 1st year, National University of Juridical Sciences, Kolkata.
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