US government has imposed 25% tariffs on technological imports worth $50 billion from China. In retaliation Chinese government has announced to reciprocate the import tariffs on US imports.
Mr Donald Trump, President of the United States said, “The United States will pursue additional tariffs if China engages in retaliatory measures, such as imposing new tariffs on United States goods, services, or agricultural products; raising non-tariff barriers; or taking punitive actions against American exporters or American companies operating in China.”
US will begin collection of duties on 818 Chinese imports valued at $34 billion from 6th July and a second set of 284 goods valued at $16 billion will undergo an additional process of review and public comment.
“Chinese imports will boost China’s growth but hurt the United States,” added Mr Donald Trump.
US trade representative said that the list does not include goods commonly purchased by American consumers such as cellphones or televisions.