The U.S-China trade war doesn’t seem to be simmering down anytime soon. Instead, the Trump administration has announced over the weekend that it’s slapping more tariffs on about $110 billion worth of imported Chinese goods. This has only further fanned the fire that could affect the U.S and Chinese economies adversely.
As per an official announcement, some of these countermeasures have already gone into effect starting September 1. The U.S now needs to talk with Chinese authorities to work out a trade deal, else China plans to impose extra tariffs on more goods from December 15. It also proposes to bring back the ‘hefty 25% import duty’ of cars imported from the U.S, which would not only affect the automakers but also the Chinese citizens adversely.
