President Trump has finalized on levying high tariff rates on majority of imports from China. This has been done as a reaction to the last increased tariffs by Chinese government in the ongoing trade war between the two leading economies of the world. He confirmed his decision on August 23, 2019. The White House would increase the current duties on approximately $250 billion worth of Chinese goods. Following the rise from October 1, the increase would be of 30%. The President had announced in a tweet that on another lot of $300 billion Chinese products, the increase in tariff would be of 15% from the earlier 10% and this would be into effect from September 1.
In several other tweets, President has said that he would continue increasing burden on Chinese government till the time they realize that their action had been unfair in terms of trade practices. Trump has larger plans in extending the trade war. He is looking forward to a trade deal with Beijing amidst all the conflict between the two nations and as the increasing tariffs are on the verge of crippling the countries’ economies.
In a tweet he said that earlier administrations have permitted China to get ahead with their unfair means of trade and business and the burden now falls on American citizens who need to pay excessive taxes. Under his watch as the president, this would not continue any longer. On August 23, 2019, the Office of U.S Trade Representative mentioned the tariffs and claimed that the tariffs imposed by Beijing on U.S products are unfair. They also said that any extra details which President would like to add for the new duties would be further published in Federal Register. The trade war took a new turn when China declared tariffs on $75 billion U.S products in exchange of the $300 billion U.S tariff on Chinese goods.
Antonio Miles is one of the professional and topmost content writers at the business hours. Along with the Degree of Doctor of Medicine, he is focused on writing the Health-related news pieces including all the inventions, breakthroughs, and findings from the healthcare sector. Antonio is a huge Shakespeare fan. Thus, he loves reading books scripted by Shakespeare in his free time. He as well publishes his papers citing mainly health, new healthcare tools, and gadgets.