The tariff between the US and China remains unsettled as US President Donald Trump on Wednesday increased the tariff on Chinese products by 125%. Within a few hours, China retaliated and implemented 84% tariff on imports from the US.
China’s Foreign Ministry said that this US strategy ‘will not win the support of the people and will finally fail. China made it clear that it does not want to fight, but will not be afraid of America’s threats. However, the Chinese Ministry of Commerce said that the door is open for talks and is expected to find a solution from the US on the basis of ‘mutual honor’ and ‘Win-Win Cooperation’.
Meanwhile, Trump has given 90 days exemption in tariffs for 75 countries, including India but China has been excluded from it. Trump hoped that there would be a good agreement soon.
Talking to reporters at the White House, Trump praised Chinese President Xi Jinping and called him ‘one of the smartest people in the world’ and said, ‘We will make a good compromise.’ He indicated that he is ready for a direct conversation with Xi and said, “There will be a time when we will get a phone call from China and everything will move forward rapidly.”
EU postpones countermeasures
European Commission Chairman Ursula von Der Leyen announced that the European Union (EU) would give a break of 90 days on imposing anti -anti -counter tariffs against the US. The decision has come after tariff pose announced by US President Donald Trump, in which he has reduced the fee on other countries except China to 10%.