President Donald Trump and his administration announced on Thursday up to $60 billion in new duties on Chinese goods. This has generated criticism from all over the globe.
Chancellor Angela Merkel has stated that these tariffs are unlawful. It has also been deemed unilateral, as Canada and Mexico have been granted exemptions over some of the metal tariffs and having bilateral talks with the EU about more potential exemptions. It is quite clear from this act that Trump is trying to exclude China from the global trade arena.
The Trump’s administration accused China of theft and transfer of US intellectual properties. Trump also accused China of Washington’s huge trade shortfall, that it harmed American workers and their businesses. China had threatened to hit America’s agriculture exports if tariffs on Beijing’s telecommunications, technology, and intellectual property are announced and so announced Friday that it planned to set tariffs on $3 billion worth of American-produced fruit, pork, wine and seamless steel pipes with more on over an additional 100 goods. It has been noted that the retaliation is restrained. China has said it intends to see how far Trump would go.
The imposed tariffs incited the possibility of a global trade war, but its announcement has made the possibility much more probable.
