In a new development of the tariff crisis and the current US-China trade war, the US administration is reported to be raising tariffs this week on Chinese imports while China has imposed new tariffs on 128 US products.
Tensions between the two countries and the negotiations behind the scenes appear to have failed, with China and the United States sticking to their demands.
This week, the US administration will raise tariffs on Chinese imports worth 50-60 billion US dollars, where these tariffs may start to come into effect in less than two months.
These punitive measures come from the United States under the accusation that China deliberately infringes intellectual property rights of American companies.
China, on the other hand, imposed new tariffs of up to 25% on US imports, including 128 commodities worth up to $3 billion, in response to U.S. tariffs imposed on imports of steel and aluminum.
In March, the United States raised tariffs on steel imports by 25% and
imports of aluminum by 10%, exempting a number of countries, causing
international reactions that threatened a global trade war.