Us China: Retaliating against America has cost China dearly. After China took action against America by scolding it on tariffs, America has also become aggressive.
Retaliating against America has cost China dearly. After China retaliated against America by slapping tariffs, America has also become aggressive. America has decided to impose higher taxes on goods coming from China. The White House has said that a 104 percent tax will now be imposed on electric vehicles coming from China. This new tax has come into effect from midnight of April 9.
This decision is considered the biggest and most difficult decision so far in the ongoing trade war between the US and China. According to Fox Business, White House Press Secretary Carolyn Levitt said that China has not yet removed the taxes imposed on the US. For this reason, the US has now decided to impose a total of 104 percent tax on goods coming from China from April 9.
US President Donald Trump said on Monday that he may impose a 50 percent tariff on China. China has imposed a 34 percent retaliatory tariff on goods coming from the United States. Trump had said while reacting to this. Trump said that if China does not cancel its 34 percent tariff by April 8, then the United States will impose another 50 percent tariff on goods coming from China. China ignored Trump’s threat and said that it would fight the United States vigorously. After this, the White House announced new tariffs on China.
How was a 104 percent tax imposed on China?
The US has now imposed a total of 104 percent tax on goods coming from China. This tax is levied in three parts. First, the US imposed a 20 percent tax earlier this year. Then on April 2, a 34 percent “reciprocal tariff” was imposed. Now Donald Trump has added a new tax of 50 percent. When these three are added, the total tax is now 104 percent.
The Trump administration says that this step has been taken to protect America’s economic interests. Many countries, especially China, do not treat America well in terms of trade. That is why he is asking China to change its trade and tax policies, Trump said. Now, due to Trump’s policies, trade relations between America and China are deteriorating.
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