The Trade War between the United States
of America and China appears to intensify with US President Donald Trump
imposing another round of tariffs worth $ 200 billion on Chinese-origin goods.
The Office of the U.S. Trade Representative (USTR) has announced that the
tariffs will start next Monday 24 September 2018.
The latest tariffs, along with previous rounds on $50 billion of Chinese goods and
metal imports, will mean over half of all Chinese goods coming into the US are
subject to the duties.
"It will be a lot of money coming into the
coffers of the United States of America," Trump said.
American Apparel and
Footwear Association call the action “cruel to U.S. interests.”
China lost no time in retaliating with
tariffs on $ 60 billion worth of US goods resulting in about 85% and 95% of
American imports into China will be subject to tariffs.
The President also
threatened to slap tariffs on another $267 billion worth of
Chinese goods, which would mean all imports from China would be subject to
The Trade War ultimately affects only the
consumers of both the countries since they have to pay more for the same
products, leaving aside the affordability. And economists and analysts warn
that the trade war will harm the global economy, putting hurdles in its growth.