Maseru, Feb. 05 — Trade war between the world’s two biggest economies has escalated after China hit back against the introduction of tariffs by the US with measures of its own.
China has set out to target specific American goods with retaliatory taxes, among other measures, following the blanket 10 ercent tariff introduced by President Donald Trump on all Chinese imports to the US.
In some ways, this latest tit-for-tat is nothing new and builds on the long-running trade dispute between the nations, with tariffs having already been imposed and threatened on various goods since 2018.
Part of China’s countermeasures to Trump’s tariffs is to announce import taxes of its own on US coal and liquefied natural gas (LNG) of 10 percent and a 15 percent charge on crude oil.
