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US President Donald Trump on Thursday increased the tariff rates on China to 145%. Earlier, he announced 125% tariff on China on Wednesday, while the rest of the countries imposed 10% baseline tariffs.
In the easy language of imposing 145% tariffs on China, it means that the $ 100 goods made in China will now go to America and become $ 245. The sale of Chinese goods in the US will reduce its sales.
US stock market declines In the government bond market, the US Treasury started selling again. At the same time, the Nasdaq Composite index of the stock market declined by about 7%. Along with this, Apple, Nvidia and other companies also declined. Oil prices fell by about 4%, trading below $ 63 per barrel.
Trump applied 10% on Chinese products on 1 February, which increased to 20% on 3 March. After this, it increased to 54% on 2 April. Then it increased to 104% on 9 April, while on 10 April it increased to 145%.
Yesterday said that the country will deal, the tariff will be 10% Trump yesterday said that more than 75 countries have called the representatives of America and these countries have not retaliated against the US in any way on my strong suggestions. So I have accepted a 90 -day pause. This ban on tariffs will give time to interact on new business agreements.
Earlier on April 2, he announced a reciperook (such as Ko Tit) tariff for different countries. Under this, 26% tariff was also imposed on India.
Recession was the risk of inflation, close to Trump was also against tariffs 1. Due to Trump tariff, the global market, including the US, fell by $ 10 million. However, within a few hours of the decision to stop the tariff, the value of the US stock market increased by $ 3.1 million.
2. Many close advisors of Trump and Ilon Musk themselves had also advised to stop tariff war. Many leaders of Trump’s Republican Party were also against Tariff. Mich McConal, Rand Paul, Susan Collins and Lisa Murkowski described the tariff as ‘unconstitutional, harmful to the economy and diplomatically dangerous’.
3. Due to tariff, the sale of American bonds started unexpectedly. Crude prices recorded a huge decline, it was becoming a situation like Corona period.
4. Wall Street banks warned of inflation, unemployment and recession in the US due to tariffs.
5. The US imports $ 440 billion from China. He has imposed 124% tariff on this. It was now becoming a big challenge for American companies who have asked for products from China. In such a situation, it was necessary for the supply chain of these companies to stop tariffs on the rest of the countries.
China is insisting on increasing new industry and innovation China has government bonds of about 600 billion pounds (about $ 760 billion) in the US. This means that China has a great force to influence the American economy. At the same time, China has also started its preparation.
China has given an additional $ 1.9 lakh crore loan to the industrial sector. This intensified the construction and upgradation of factories here. Huawei has opened a research center for 35,000 engineers in Shanghai, 10 times larger than Google’s California headquarters. This will speed up technology and innovation capacity.
China said yesterday- will fight till the end instead of bowing
Amid the ongoing tariff war between the US, China yesterday said that it would choose to fight till the end of the US instead of bending. Chinese Foreign Ministry spokesman Mao Ning said that China is not afraid of provocation, it would not back down.
Mao Ning shared many posts on social media. It also had a video of Mao Jedong, a former Chinese leader. Mao is saying in it- we are Chinese. We are not afraid of provocation. We do not back down. The video is from 1953 when China and the US were indirectly face to face in the Korean war.
In the video, Mao says- We cannot decide how long this war will last. It depends on the President Truman or Eisenhwar or the new President. No matter how long this battle goes, we will never bow down. We will fight until we win completely.
Mao Ning shared a picture in another post. It states that American will buy only Chinese goods even after the price is expensive.
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Read this news also … Trump on backfoot in 7 days: Tariff stopped for 90 days, increased to 125% on China
US President Donald Trump on Wednesday stopped more than 75 countries such as Tit i.e. reciperook tariff for 90 days. This has come into force with their decision. However, he has not included China in this discount, but has increased the tariff on it from 104% to 125%. Read full news here