The current President of the United States, Donald Trump revealed his thought about hiking the revenue or the import tax to 25 percent, which is equivalent to $200 billion. He further insisted the concerned authorities and officials to take charge according to his revealed move.
On Wednesday, Trump disclosed his words of increasing the trade tariffs which would threaten China. On this development, China decided to fight back against what has happened as the country feels that it is not a fair decision. On Thursday, China ensued its vow of fighting back with the US president.
The current issue revolves around the political boundaries and money matters which are about import taxes and tariffs pertaining to Asian trade exports, which are now said to have been raised by Trump. As a result, China’s frustration has magnified and the anger tends to have shaken the trade, economy and financial statuses of the nation.
The trade tariffs were initially 10 percent on $200 billion but now, there is 15 percent rise. The US president targets China and other nations for reasons that picturize these nations as those which are exploiting the US trade in at a wider panorama. As Trump gets serious in this matter, China gets more stubborn; there is no indication that China would agree to Trump’s pressure and let the imposed new law create huge adverse impacts on the Chinese.
“We hope that those directly involved in the United States’ trade policies can calm down, carefully listen to the voices of US consumers and hear the collective call of the international community,” said the top diplomat from the government of China, Wang Yi.
Taking it sportively, China considers the matter as a blockage that a competitor often thinks to throw on another in order win the race of power. However, let us not forget that, ultimately we are left with waiting and watching the interesting developments which take place in this regard. Who do you think has made a valid point and why? Let us know in the comments below!