US President Donald Trump warns China of substantial increase in import tariffs
World | August 03, 2019 7:50 ISTUS President Donald Trump Friday warned of imposing substantial tariffs on imports from China if the trade negotiations do not go well.
US President Donald Trump Friday warned of imposing substantial tariffs on imports from China if the trade negotiations do not go well.
This amounts to about USD300 billion. This is in addition to the Chinese imports worth USD200 billion on which Trump increased the import duty from 10 percent to 25 percent, beginning Friday.
"We do not agree with that at all. Our tariffs (import duties) are very consistent with the bound rates that we are entitled to in the WTO," Commerce Secretary Anup Wadhawan told reporters here.
This is for the second time in a month that Trump raised the issue of high import duty on motorcycles by India. Earlier, he had called it “unfair” and threatened to increase the tariff on import of Indian motorcycles to the US.
China reported a $510 billion global trade surplus last year, though total trade contracted in a sign of weak foreign and domestic demand.
Top News
Latest News