China Hits Back At US With 34% Reciprocal Tariff : Is It A Beginning Of New Trade War?

Beijing (The Uttam Hindu): China declared on Friday a 34% tariffs on all US imports starting from April10, striking back after America's tough stance on trade with China. The trade tension escalated after Trump unveiled the 34% on all Chines goods imported to US which came as a major reset of relations between both the countries.

“This practice of the US is not in line with international trade rules, seriously undermines China’s legitimate rights and interests, and is a typical unilateral bullying practice,” China’s State Council Tariff Commission said in a statement announcing its retaliatory tariffs. Trump had already levied two tranches of 10% additional duties on chinese imports since his re-election as the President stating that it was necessary to stem the flow of   illegal fentanyl from China to US. That means Chinese goods arriving in the US would be effectively subject to 54% tariffs.