Trump's tariff war

 

'China made a mistake, they are scared'! Trump not happy with Beijing's decision to impose retaliatory tariffs

China has imposed an additional 34 percent tariff on goods imported from the United States! After this decision was made public, US President Donald Trump did not delay in reacting. He made it clear that China made a mistake by imposing additional tariffs on American goods.

Trump announced tariffs on various countries on Wednesday. China was also on the list. As announced by Trump, an additional 34 percent tariff will be levied on Chinese products imported into the American market. Beijing made it clear on Friday that America did not take this decision well. They also announced the imposition of additional tariffs on American products in equal amounts.

Not only that, in response to Trump's decision, Xi Jinping's Ministry of Commerce has also tightened the export of Chinese products. Jinping has decided to control the export of at least seven minerals (rare earth elements). These include important minerals like gadolinium and yttrium. This does not end here, 11 American companies have been banned from trading in China, calling them 'untrustworthy'. Jinping's Ministry of Commerce has said that they will not be able to trade with any Chinese company.

Trump is unhappy with China's decision. He has condemned Beijing's tariff imposition on his social media. At the same time, he said, China is scared, they made a mistake. They can't do this.

After becoming the US president for the second time, Trump has launched a tariff war against various countries. As soon as he came to power, he announced that the country that imposes tariffs on American products will impose the same amount of import duties on its products! Similarly, last Wednesday, he imposed different amounts of tariffs on various countries. When imposing tariffs on Chinese products, Trump said, "China imposes a 67 percent tariff on American products. We are giving them some concessions. Their products will be subject to a 34 percent tariff." However, on Thursday, Trump could also be heard talking about a compromise with China on tariffs. He said that if China agrees to sign the TikTok agreement, America can walk the path of a compromise with them on tariffs. But Beijing did not agree to that proposal and announced the imposition of additional tariffs.