- US: $200 billion worth Chinese goods
- China:$60 billion worth American goods
Admin l Monday, May 13, 2019
CHINA – The Chinese government today imposed tariffs on $60 billion worth of American goods in retaliation against the United States that had imposed similar tariffs on $200 billion worth of Chinese goods.
President Donald Trump had raised tariffs on $200 billion Chinese goods to 25 percent from 10 percent, triggering another round of trade dispute.
The tariffs are expected to come into effect in June 1, 2019.
The tarifs will be imposed in three categories on US imports, between 10% and 25%, while the rest of the $60 billion US imports, will attract 5 percent tariff
The tariffs will affect about 5,000 US products. Major targets of the tarrifs are U.S farmers who have not been finding things easy since Trump initiated the trade disputes.
Famermers in Lowa, United State in March complained about the impact of the trade tariff on business at a gathering addressed by Secretary of State, Mike Pompeo. Farmers affected are those dealing in Soyabean, porkmeat and other items. One of the farmer who who identified himself as a big farmer in central Iowa said:
“Our family has been involved in pork production, corn, soybeans as well. We’re still dealing with retaliatory tariffs, not only from China but also from Mexico. The pork industry is very important to the state of Iowa and really the whole Midwest, and we’ve really taken a double whammy”, he said during the interraction with Pompeo.
