
US President Donald Trump has increased the tariff on China from 125% to 245%. This trade war between the US and China is constantly increasing and meanwhile China has also expressed strong reaction to this decision of Trump.
China's Foreign Ministry said on Thursday that China will ignore and pay no attention to it if the US continues to play the "tariff number game".
What was in the US fact sheet?
In a fact sheet released on Tuesday, the White House said the total tariffs on China include a new reciprocal tariff of 125%, a 20% tariff to combat the fentanyl crisis, and tariffs ranging between 7.5% and 100% on select goods to combat unfair trade practices.
Let us tell you, US President Donald Trump had announced to impose additional tariffs on all countries two weeks ago, after which he withdrew the high reciprocal tariffs imposed on dozens of countries. While the tariffs on China were continued.
China demanded respect
Beijing responded by raising its own tariffs on U.S. goods and has not sought negotiations, which it says can only be held on the basis of mutual respect and equality.
Meanwhile, several other countries have begun considering bilateral agreements with the US. Last week, China also filed a new complaint with the World Trade Organisation expressing serious concerns over the US tariffs, accusing Washington of violating the global trade body's rules.
America said- China needs ‘our money’
China this week unexpectedly appointed a new trade negotiator who will play a key role in any talks to resolve the escalating tariff war, replacing czar Wang Shouwen with Li Chenggang, its envoy to the World Trade Organization.
Washington has said Trump is ready to strike a trade deal with China but Beijing must make the first move, insisting China needs "our money".
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