The Chinese government has announced that from June 1, all America imports will be increased to $60 billion.
This comes as a retaliation on America’s recent tariff increase on Chinese goods imported to the US, escalating the ongoing trade wars between the two countries.
There were moves to settle matters on trade wars last week by the two sides, which wasn’t fruitful as no agreement was reached amicably.
This ultimately causes more tension for these powerful countries, with the US not seeming to rescind on its earlier decision in increasing tariffs.
The US president, Donald Trump mentioned on his twitter earlier today “There is no reason for the U.S. Consumer to pay the Tariffs, which take effect on China today. This has been proven recently when only 4 points were paid by the U.S., 21 points by China because China subsidizes product to such a large degree. Also, the Tariffs can be completely avoided if you buy from a non-Tariffed Country, or you buy the product inside the USA (the best idea). That’s Zero Tariffs. Many Tariffed companies will be leaving China for Vietnam and other such countries in Asia. That’s why China wants to make a deal so badly!
He continued “There will be nobody left in China to do business with. Very bad for China, very good for USA! But China has taken so advantage of the U.S. for so many years, that they are way ahead (Our Presidents did not do the job). Therefore, China should not retaliate-will only get worse!