Kathmandu. There is a tariff-tariff game going on between the US and China. After one country imposes tariffs, another country also imposes tariffs.
After china’s new tariff, now the US has also imposed new tariffs on China. The United States has announced a new tariff of up to 245% on goods coming from China. The decision was made by the White House on Tuesday night. This step has been taken in response to China’s retaliatory trade action.
The US is investigating the import of certain items in view of national security. China has banned the export of some essential high-tech items such as heavy rare metals and magnates. These things are very important for industries such as automobiles, aerospace, semiconductors and defense. That’s why the US has taken this step. It remains to be seen how China reacts to this US tariff.
“China will now have to pay tariffs of up to 245% on imports into the United States because it has retaliated,” the White House said in a statement. This step has been corrected on the basis of national security. ’
The statement mentioned the steps taken towards China. China has banned the export of gallium, germanium, antimony and other strategic materials. These can also be used in the military. This week, China halted exports of six heavy rare metals as well as magnets to halt supplies, the US administration said.
President Donald Trump’s “America First” trade policy is aimed at restoring the country’s economic strength and independence, the White House has said. This policy started from the very first day he became president.
Trump said more than 75 countries have reached out to discuss a new trade deal. Therefore, the high tariff imposed in different countries has been stopped for the time being. However, China retaliated, so this rule will apply to it.
Recently, the US had imposed a 145 percent tariff on goods coming from China. In response, China banned its airlines from buying more Boeing aircraft. Not only this, China has also instructed its airlines not to buy aircraft equipment and parts from American companies.
Meanwhile, China has said that it is not afraid of a trade war with the US. However, China has also reiterated its desire to hold talks. The new tariffs could further exacerbate trade tensions between the world’s two largest economies. On Friday, China imposed a 125 per cent tariff on U.S. goods. – Agency
