China to raise tariffs on US goods

  • As per recent reports, China is said to raise its tariffs on the US goods imports of $60bn from June 1, 2019. The sources state that China is extending its bilateral trade war. This step was initiated by China when US imposed more than double the tariffs on $200bn of Chinese goods imports. This war is increasingly hitting the stock markets across the world too. Donald Trump, US President, recently warned China on not to raise taxes and levies on US imports, but Beijing in one of its statements stated that they won't accept any bitter fruit that may harm their economy's interests.

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