India Bole: Trade war between US and China rises

India Bole: China rejected the US’ demand to cut down trade deficit by $100 billion as “unviable” and announced plans to impose retaliatory tariffs worth $50 billion on 106 American products, including soybeans, cars and small aircraft. Following this, United States President Donald Trump stepped up his trade war rhetoric with China, seeking USD 100 billion in additional tariffs on Chinese products. Trump’s USD 100 bn tariff imposition on Chinese imports is in addition to the proposed 25 per cent import tariffs worth USD 50 billion on some 1,300 Chinese products being imported into the US.

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