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Beijing retaliates by raising tariffs on US goods

  • Regular
  • Global
  • 6 months ago
  • 99

Following Trump’s decision to increase tariffs on Chinese goods, Beijing has taken a countermeasure in which it will increase tariffs on more than 5,000 U.S. product, in total with a worth of $60 billion.

In some cases, as high as 25%, in a statement from the Chinese Finance Ministry.

U.S. farmers will be the ones whom are expected to suffer from this, since they were largely behind Trump’s Presidential campaign in 2016.

Hence products such as peanuts, sugar, chicken and turkey will be all affected.

 

 

 

Source: Smart Trend Team