Loading weather...
GHANA WEATHER

Trade war: Trump raises tariffs on $200bn of Chinese goods

Facebook
Twitter
LinkedIn
WhatsApp
Pinterest
Facebook
Twitter
WhatsApp

The US has more than doubled tariffs on $200bn (£153.7bn) worth of Chinese products, in a sharp escalation of the countries’ damaging trade war.

Tariffs on affected Chinese goods have risen to 25% from 10%, and Beijing has vowed to retaliate.

China says it “deeply regrets” the move and will have to take “necessary counter-measures.”

It comes as high-level officials from both sides are attempting to salvage a trade deal in Washington.

Only recently, the US and China appeared to be close to ending months of trade tensions.

China’s Commerce Ministry confirmed the latest US tariff increase on its website.

“It is hoped that the US and the Chinese sides will work together… to resolve existing problems through co-operation and consultation,” it said in a statement.

Tariffs are taxes paid by importers on foreign goods, so the 25% tariff will be paid by American companies who bring Chinese goods into the country.

Leave a Reply

Your email address will not be published. Required fields are marked *

The Ghana Broadcasting Corporation is a giant electronic media (Radio and Television) organization tasked with a mission to lead the broadcasting industry through quality programming, which promotes the development and cultural aspirations of Ghana as well as undertaking viable commercial activities

Mission

To lead the broadcasting and communication industry through quality programming, which promotes the development and cultural aspirations of Ghana

Vision

To be the authentic and trusted voice of Ghana