US President says Steep Tariffs on Chinese Imports Yielding Results, China says Blackmailing Won't Work
August 5 , 2018
US President Donald Trump has claimed that imposition of steep tariffs on Chinese imports to the US has started yielding results as China has started talking to the United States about trade. In a tweet, President Trump cited steep losses in the Chinese stock market after the imposition of US tariffs and predicted a dramatic rise of the US market once the trade deals are renegotiated. However, China shot back by saying that “The White House's extreme pressure and blackmail” nis clear to the international community and went on to say that such blackmailing tactics will not yield against them. China has revealed the list of 5,207 US-made products with increased new tariffs of 25, 20, 10 or 5 per cent after the United States imposed additional duties on $200 Billion of Chinese goods.