Trump Tariff War : US President Donald Trump‘s tariff has created a stir in the world. Trump announced a 10% tariff on goods going from China to America. Then China got infuriated by America’s tariff and decided to respond to America. As a result, now China has also started imposing tariff on goods imported from America. China has imposed up to 15 percent tariff on many products including coal and crude oil of America. These tariffs imposed by China will come into effect from February 10.
Tariff war between America and China
- China announces 15 percent tariff on US coal
- 15% tariff on LNG products
- 10 percent tariff on US crude oil and other products
- 10% tariff on cars with bigger engines
- 10% tariff on pickup vehicles as well
Trump tariffs hit China, Canada and Mexico
US President Donald Trump signed an executive order on Saturday (1 February) imposing a 25% tariff on goods coming from Mexico. A 25% tariff has also been imposed on goods coming from Canada, but only a 10% tariff will be imposed on Canadian energy resources. In this order, a 10% tariff has also been imposed on imports from China. After which China has said that it will file a case in the World Trade Organization. The Republican leader had made tariff issues the basis of his election campaign.
Trump threatens tariffs to European Union
President Donald Trump said that after imposing tariffs on Canada, Mexico and China, the US will also impose tariffs on the European Union. However, he indicated to exempt Britain from this decision. According to media reports, when the US President was asked whether the European Union was his next target, Trump replied that ‘it definitely will be’, but he suggested that ‘a compromise can be reached’ with Britain.
What did Germany say about Trump’s tariff threat?
Since Trump’s statement, EU member countries are continuously giving their reactions. German Chancellor Olaf Scholz says that the European Union can also respond with its tariffs, but it is better for both sides to reach a trade agreement. In France, Central Bank Governor Francois Villeroy de Galhau called the tariffs ‘cruel’ and said that this would ‘increase economic uncertainty.’
Spanish minister responds to Trump’s tariff action
Spain’s Economy Minister Carlos Cuerpo has warned the EU not to be “naïve”. Speaking to Spanish radio RNE, he said the EU supports the global market but must ensure its businesses can compete on equal terms with rivals abroad. At a meeting of European leaders in Brussels, EU foreign policy chief Kaja Kallas said there are “no winners in trade wars”. If there is a trade war with the US, “the one laughing will be China”, she said.
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