Trade war: the US will charge 25 percent extra form China, 279 items of $16 billion will be affected

Aug 09 2018 01:16 PM
Trade war: the US will charge 25 percent extra form China, 279 items of $16 billion will be affected

The trade war between America and China is on the rise. The Trump Administration on Wednesday announced the second phase of imposing duty on imported goods from China. On August 23, the United States will charge 25 per cent of the 279 items imported from China to 279 items.
America has already imposed a fee of $ 34 billion on July 6. However, considering the worries of US companies, they had put an extra charge on $ 16 billion worth of goods at that time. 

The US Trade Representation (USTR) office said that it is part of America's counter-action on China's "unfair business activities" related to the American technology and forcible transfer of intellectual property. 

Since the Trump Administration came to power, many steps have been taken to reduce the large imbalance in trade with China and the issue of alleged theft of intellectual property. USTR issued the test results of Section 301 in March 2018.  It said that China's policies and activities related to technology transfer, intellectual property and innovation are "unfair and discriminatory" and are a burden on American trade.

The newspaper has quoted Chinese experts as saying that by doing this India is jumping into a dangerous sport because India is not going to get any benefit from the business. India's Commerce Department had suggested keeping 25 percent tariffs on solar cells and modules imported from China on Monday. This move of India is going to trouble China.

Also Read:

Ceasefire violation by Pakistan army just after General elections in Pakistan

Pakistan will be ruined if it doesn't get a loan of twelve billion dollars

PTI worker reveals, Phone, app and computerized database helped in Imran Khan's victory

© 2016 News Track Live - ALL RIGHTS RESERVED