Written by Keshala Dias
04 Apr, 2018 | 6:31 pm
Trade tensions between China and the US have been ramped up after Beijing responded to US plans for imposing new taxes on hundreds of Chinese imports.
China stated it would place a 25% trade tariffs on 106 US goods. They include soybeans, cars and orange juice.
The move came just hours after the Trump administration detailed its plan to impose tariffs on a similar value of Chinese-made aircraft parts, cars and car parts, televisions, steel and much more.
Though the tariffs are not in place yet, the news had an immediate impact on markets, The Washington Post reports.
The products targeted by the Chinese tariffs were worth $50bn (£35.5bn) in 2017, according to the Chinese commerce ministry.
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