How Increased Tariffs Affecting Imports in the US
Tariff escalation is the biggest burden on normal consumers of the US. Both the countries US-China have been in trade contention for the last one year and it has impacted both the countries in several sectors. Chinese exports are touching low every month as Trump administration hiking the tariffs and imposing bans on Chinese technology companies. How it all started The world’s two biggest economies are on the front line ever since the US president began setting higher tariffs and other trade barriers on China in January 2018. The motive behind the improved tariffs was to abate unfair trade practices and the growing trade deficit. The US had imposed tariffs on US$550 billion worth of Chinese products while in return, China had also stricken with tariffs on US$185 billion worth of US goods. The chronology is so long that can’t be referred here. But the truth is any of these nations are willing to back down the further rift. Impact on the US imports Increased rates on many Ch