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Trade War With US Gets Severe; China Retaliates

  • The trade war between China and the US has gotten intense. Both the sides have imposed on each other biggest tariffs so far. The analysts predict that the situation would get worse over the days despite the fact that China would lag behind in finding ways of retaliation.

    China has announced on Tuesday that it would impose tariffs on goods of US worth $60 billion. The announcement came after the US announced levying Chinese goods worth $200 billion with taxes. A wide variety of Chinese goods like baseball gloves, industrial machinery parts, food seasonings, network routers and more will be imposed with taxes.