InvestorQ : Did Trump threaten to raise Chinese import tariff?
Sneha Balasubramanian made post

Did Trump threaten to raise Chinese import tariff?

user profile image
riya Ranade answered.
1 year ago

On 5th May 2019, Donald John Trump, the president of the United States announced a direction over tariff rates of Chinese imports to the country.

The increased rate would result in pressure on Beijing. Tariff above $200 billion of Chinese imports will be increased to 20% from 10 percent from 10th May 2019.

The report says that Trump may impose a duty of 25% on additional Chinese imports $325 billion that isn’t taxed now.
According to Trump, the reason for the hiked tariff rates is the loss that the United States is facing that comes around 600 to 800 Billion Dollars a year on Trade. That includes a loss of 500 Billion Dollars due to trade with China.

China may backfire to answer Trump's new imposition over the imports. Chinese Vice Premier Liu He has planned to visit Washington on Wednesday. The aim of the meeting would be putting the proposal up to be possibly the final round of negotiations.

Final agreement and signing the deal by Trump and Chinese President Xi Jinping is likely to be on 10th May 2019.
Image result for trump Xi Jinping
(Source- google images)

user profile image
Roshni Hegde answered.
1 year ago

Through analyzing the impacts of tariff imposition by the US, India's capital New Delhi says Washington that India will lose as much as $3.2 billion a year in customs revenue.
This estimate will be above India's export incentive of $190 million that the US offered India in FY18 under the so-called generalised system of preferences (GSP).

The list of items that the US demands India to cut down include mostly luxury items.
They are high-end mobile phones worth above Rs 10,000, mobile phone parts, smart watches, telecom network equipment, radio receivers, and certain print circuit assemblies.
New Delhi foresees drastic impacts on Indian economy due to any move to cut.