Beijing hits back at US with 34% import tariff
News code :
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China has announced it will impose a 34% tariff on imported US goods in addition to existing tariffs in response to similar moves by the United States, in the latest escalation in trade tensions between the two countries.
The Chinese tariff will be effective from April 10, according to the State Council, China’s cabinet.
The retaliation comes in the wake of the 34 per cent tariffs imposed on Chinese goods by the United States on Wednesday, South China Morning Post reported.
The swift response suggests that Beijing is going to play tough, instead of entering into negotiations with the US.