China's response to tradeworthiness with the US, for the first time, imposes a 5 percent duty on crude

(PTI) Washington / Beijing, Ta. September 1, 2019, Sunday

US President Donald Trump has agreed to give the United States a back-and-forth response when the 15 percent duty hike imposed on Chinese $ 112 billion worth of goods goes into effect on Sunday. China imposes an additional five percent duty on crude imported from the United States. Duty has been imposed on crude for the first time in Treadwire.

There is no sign of a tradewar halt for more than a year between the US and China. The latest round of imposition of duty on Chinese imports by the Trump administration has begun to take effect on Sunday. Now, Americans may face a potential price hike on some brands of clothing, shoes, sporting goods, smart speakers, Bluetooth headphones and other consumer goods before the holiday shopping season.

The Trump government's decision puts the US economy at risk, as consumer spending is the main driving force for the economy here. Trump's decision will see the impact of higher taxes on more than two-thirds of consumer goods imported from China. Until now, the Trump administration has avoided impacting consumer goods on tariff hikes. Besides, exports are weak due to poor global growth and industries have reduced investment costs. As a result of Trump's high duty, several US companies have warned that they may be forced to impose tariff hikes on goods imported from China. As a result, most retail goods prices may go up. After the increase in duty on Sunday, the duty on textile and garments imported from China will be 87% and on footwear 70%.

In response, China has levied additional duty on many US goods. However, Peiching did not release a list of common charges that will be charged beyond Sunday. Last month, US President Trump said he was planning to impose an additional 5 percent duty on 550 billion Chinese goods. China has announced a duty to respond. Since December 15, the Trump system has been considering imposing a 15 percent additional tariff on China's $ 160 billion imports. If this duty increase goes into effect, virtually all items imported from China will be covered.

The trade war has been going on for more than a year between the US and China. In an attempt to force China to reform its trade policy, the Trump administration has imposed additional import duty on billions of dollars worth of goods imported from China, and in response China has imposed a duty on goods imported from the United States. Trump also announced that the current 25 percent duty on a separate group of US $ 250 billion imported from China will be increased from October 1 to 30 percent. It can have a profound impact on the American economy.