The US and China are on a collision course over trade. President Donald Trump threatened to slap a 50% tariff on Chinese goods. This would be on top of existing tariffs. Trump wants China to cancel its own tariffs on US goods by April 8.
China hit back with a 34% tariff on US goods after Trump announced a 10% “baseline tariff” on all imports. The US also imposed “reciprocal tariffs” on countries with big trade deficits. China’s tariff will start on April 10.
Trump warned countries that retaliate against the US with extra tariffs. He said they’ll face even higher tariffs. Trump posted on Truth Social that China’s 34% tariff is part of a long history of unfair trade practices.
If China doesn’t cancel its tariff by April 8, the US will impose a 50% tariff on Chinese goods starting April 9. Trump also said any meeting requests from China will be canceled. The US will start trade talks with other countries that ask to join.
The trade war between the US and China is escalating. Both sides are imposing tariffs on each other’s goods. The US and China are two of the world’s biggest economies. A trade war could affect the global economy.
This situation is unfolding quickly. The US and China need to find a way to resolve their trade differences. The whole world is watching to see what happens next.
Source: cnn