Us tarifs on china: US President Donald Trump has once again taken a big step against China. On Thursday, he increased the import on Chinese goods and increased to 145 percent. This decision was taken when China imposed 84 percent tax on American goods. According to a report by Bloomberg, this information is given in a White House document.

Earlier, the Trump government implemented China, accusing China of involvement in smuggling drugs named Phantanil. Trump had earlier announced 125 percent tariff to reduce America’s trade deficit and respond to the tax imposed by China.

White House released a statement

According to the new policy of the White House, 145% import duty has been imposed on everything coming from China. Apart from this, 25% tax will be levied on aluminum, cars and things outside the US-Mexico-Canada Agreement (USMCA), 10% tax will also be applicable on all other imported things.

President Trump said in a cabinet meeting on Thursday, “We will have to pay some price during this time, but in the end it will get a good result. We are in a strong position.”

Is this the next stage of business war?

This policy of President Trump is part of his “America First” thinking. The aim is that American companies work in their country, construction in the country and balance in business, but experts believe that by imposing so much tax, the common people may have to face the effect of increasing the prices of things and the supply chain of the world can also be disturbed.

Trump had said a day ago that most countries will be given 90 days relief in some tax, but China will not get this discount. The 125% tax that was imposed on China earlier has now been increased to 145%. Now everyone’s eyes are on what China reacts to this decision and what effect does it affect the global trade.

Prime Ministers of Britain and Japan protested US tariffs

The British Prime Minister Kir Stmper spoke to Japanese Prime Minister Shigeru Ishiba. The two leaders agreed that no one would benefit from the trade war. According to the report by the news agency Xinhua, the new and controversial tariff set of the US has increased tension in recent weeks, which has severely affected the global markets.

India-china trade: For business, all countries closely monitor the movements of their trading partners. The Reserve Bank of India is also monitoring Chinese currency yuan closely because China is the largest trading partner in India. Experts say that weak yuan will weaken India’s trade deficit with China. Yuan has come to the lowest level of 17 years due to the trade war of America and China. It fell 7.3498 against the dollar.

According to the report of Reuters, the Reserve Bank and some sources monitoring the whole matter said that even if the price of Yuan decreases, India can bear the sharp drop of rupee. US President Donald Trump on Wednesday announced a 125 % tariff on China. For the last few days, both countries are implementing tariffs on each other. If one puts a tariff, the other increases the tariff in his response, due to which the tariff on sugar goods through 20, 34, 50 % became 125 %. Yesterday, in response, China put 34 % tariff on American exports and then increased it to 50 %.

America will not withdraw high tariff, then China’s GDP will affect
Chinese experts say that America will be halved until the high tariff is withdrawn from the US. This will affect the GDP of the country. An analyst of Barclays Bank has said that the increasing tariff costs a large economic cost for currency stability, but at present there is no hope of stability in the yuan. Goldman Sachs has predicted a decrease of 0.7 % in China’s GDP growth this year.

What do experts say about China’s economy?
Experts say that weak yuan can further increase India’s trade deficit with China. The reduction of the value of the yuan will affect the rupee and other Asian countries as well. Goldman Sachs said in its report that the dollar-Asian currency exchange rate is usually seen for the currency of Asian countries, but the situation will be seen in the situation what the Yuan-Doller Currency Exchange Rate is.

The price of Yuan has fallen by 7.3498 against the dollar, while the Indian rupee fell to 85.85. There has been a decrease of 0.7 % after the start of tariff war in the Indian rupee. Earlier on February 10, the rupee went to 87.95, which was the lowest level ever.

China is India’s largest trading partner and India raised a $ 94 billion trade deficit with China last year. This shows India’s dependence on Chinese exports. Because of this, the Reserve Bank of India is closely monitoring Yuan. The Reserve Bank for business monitors the movements of trading partners.

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