Beijing: China has also taxed 15 % to 25 % of 128 items imported from the USA. China has responded to the increase in import tax by President Trump on the imports of steel and aluminum alloy in America. China said that these measures have made to protect Chinese interests and balance the US’s new tax policy on China Products.
Earlier, China had said that he does not want a commercial war, but if his economy is affected by it. Then he will not sit silently. US officials have already announced plans for the production of billions of dollars on Chinese imports. In addition to the current taxes, additional 25 percent tax will apply on the promotion of scrap aluminum and pig frozen meat from the US. Apart from this, nuts, fresh and dry fruits, and alcohol taxes will increase by 15 percent. Steel wrapping rods or bars will also increase by 15%. Apart from this, there is also the possibility of further increase in the further tax.
White House says he is taking this step in response to an unusual competition by the Chinese government-owned economy. According to the Chinese Ministry of Commerce and Finance spokesperson, Chinese decision will implement instantly. China’s taxes are worth $ 3 billion. US President Donald Trump used to plan a $ 60 billion additional tax on Chinese products.
These new taxes will start to apply from the 2 April 2018. China imposing 15 % tariff on USA 120 products. Mr. Trump’s tariffs are partly an answer to complaints that Beijing steals or forces foreign companies to hand over technology.