Trump okays plan to impose tariff on Chinese goods

The move is set to trigger trade war between countries, with China likley to act in retaliation.

US government has approved a plan to impose higher tariffs on Chinese goods. 
 
The move is set to trigger trade war between countries, with China likley to act in retaliation.
 
Trump has met several Cabinet members and trade advisers and was expected to impose tariffs of at least $35 billion to $40 billion on Chinese imports, an industry official and an administration official familiar with the plans told AP. 
 
Only last week, US President Donald Trump had called for a free and fair trade. He warned other countries of reciprocal tariff if they keep on imposing high tariffs to US products. 
 
“You know, all of these countries, including the European Union, they charge five times the tariff. They charge five times what we charge for tariffs. I believe in the word ‘reciprocal’. You’re going to charge five times? We’re going to charge five times. That hasn’t been done. No other president ever brought it up. And it’s going to be done now,” Trump had then told reporters.
 
“We lose over USD 100 billion a year with Mexico. We lose many, many, many billions of dollars with Canada. They are (Canada) very restrictive as to taking our agricultural product and other things,” he said.
 
The United States, Trump said, was negotiating numerous deals with countries including NAFTA countries. 
 
“...I wouldn’t mind seeing a separate deal with Canada, where you have one type of product, so to speak, and a separate deal with Mexico. These are two very difficult countries. It’s been a lousy deal for the United States from day one.  We lose a lot of money with Canada, and we lose a fortune with Mexico. It’s not going to happen like that anymore,” he said.
 
The European Union and Canada, on the other hand, threatening retaliatory measures if the US government does not roll back tariff hike on new steel and aluminium.
 
China had then said it wouldn’t increase the purchases of American products if President Donald Trump goes ahead with his threat to impose tariffs on Chinese imports.

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