<img src="https://static.gujaratsamachar.com/content_image/content_image_765bc622-613e-46b4-b581-e0ac646cd7b8.jpeg" data-filename="Ahmedabad flights (20).png" style="width: 100%;"> Triggering a full-blown trade war, China has announced 84% additional tariffs on all products imported from the United States, the Customs Tariff Commission of the State Council announced on Wednesday.The announcement came after US President Donald Trump’s sweeping reciprocal tariffs went into effect Tuesday (local time), unaffected by negotiations underway between the US and the affected trading partner countries, with the heaviest levy of 104% on goods from China.&nbsp;The Trump administration had said negotiations are on with 70 trading partner countries, and efforts are being made to agree on a tailor-made deal with every country and not an off-the-rack template for all.China’s Ministry of Commerce said it was adding 11 American companies to its list of “unreliable entities,” which bars them from doing business in China or with Chinese companies.The Chinese ministry also imposed stringent limits on exports of certain rare earth elements, including Gadolinium and Yttrium, which are mined almost exclusively in China and are used in everything from electric cars to smart bombs.US President Donald Trump had earlier announced 54% reciprocal tariffs on China.Global investment bank JP Morgan said that it now sees a 60% chance of the global economy entering recession by 2025 end, up from 40% previously, with the tariff wars taking place.According to analysts, the reciprocal tariffs imposed by the US will undoubtedly hit all countries but Indian exporters may emerge stronger as rivals, especially when China has been hit the hardest.Also read:<a href="https://english.gujaratsamachar.com/news/international/us-hits-china-with-heaviest-tariff-of-104-on-chinese-goods-despite-ongoing-trade-talks" target="_blank">US hits China with heaviest tariff of 104% on chinese goods despite ongoing trade talks</a><div style="text-align: left;"> </div><div style="text-align: left;"> </div>

Triggering a full-blown trade war, China has announced84% tariffs on all products imported from the United States, the Customs Tariff Commission of the State Council announced on Wednesday.

Tariff war: China slaps 84% additional tariffs on all US imports

China

Tariff-war

Donald-Trump

Full-blown trade war: China slaps 84% additional tariffs on all US imports

CATEGORIES

CITY NEWS