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Trade war escalates: Trump warns of 50% tariff on China

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Global College
Nepal Life

Kathmandu. US President Donald Trump has threatened to impose new tariffs on China. Trump has threatened to impose new tariffs on China from Tuesday if China does not withdraw the 34 percent retaliatory tariffs imposed on the US.

Trump has said that the new tariffs to be imposed on China will be 50 percent. After the US President’s Office announced that it would impose a 34 percent tariff on goods coming from China to the US from April 9, China announced a similar tax on the US on Friday. Trump’s warning has increased the possibility of a trade war between the two countries.

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Meanwhile, Trump has once again defended his tariff-related policies on ‘Truth Social’. In his latest update, Trump wrote, ‘Countries around the world are talking to us. A tough but fair standard has been set for these talks.’

Trump said he spoke with Japanese Prime Minister Shigeru Ishiba on Monday morning local time and that his country had treated the United States very badly on trade issues. Trump said, “They don’t buy our cars, but we buy millions of their cars. It’s the same with agriculture and other products.” –Agency

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