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USA and China trade war escalating

June 12, 2019 00:00:00


Trade war between USA and China has become a buzzword in the international arena. US President Donald Trump launched trade war in 2018 against China slapping huge tariffs worth USD 250 billion on Chinese goods arguing that USA and China trade gap had been widening and China had been in the favorable condition. He also made some allegations against some Chinese companies. In retaliation, China imposed high tariffs worth USD 110 billion against USA goods import to China. Since the waging of the trade war, high officials of both the countries held rounds of meetings but could not reach a consensus on the burning issue. Very recently President Trump came up with a decisive move again levying tariffs USD 200 billion on Chinese imported goods and blacklisted a China telecom company. The decision of Trump administration has prompted the Chinese government to retaliate by imposing tariffs worth USD 60 billion on USA goods. The retaliatory moves on both sides have been escalating the trade war between two economic giants. The International Monetary Fund (IMF) and the World Trade Organisation (WTO) have been warning that the trade war has been affecting and undermining international trade and commerce.

Mohammad Zonaed Emran

MNC Banking Unit

Mutual Trust Bank Limited

Corporate Head Office

zonaed.emran@gmail.com


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