“The $18 billion increase in US tariffs on Chinese goods will 'seriously affect' relations between the two countries,” China's Ministry of Commerce said today, calling on the United States to “immediately reverse its wrong decisions and cancel the additional tariff measures against China”. Beijing is asking Washington to “immediately correct its mistakes and cancel the increase in customs duties against China.” The White House today announced an $18 billion increase in tariffs on Chinese goods to “protect American businesses and American workers” from what Washington says is unfair competition. Tariffs on ten industrial sectors The new tariffs concern about ten industrial sectors, which are considered “strategic”, such as semiconductors, critical minerals, medical products or even electric cars, where tariffs, for example, will increase from 25% to 100%. In addition to the quadrupling of duties on […]
Source: News Beast
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