China & US kick off new round of tariff as trade tension ratchets up

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China & US kick off new round of tariff as trade tension ratchets up

On Sunday, the 1st of September 2019, United States and China had begun to collect an additional duty on each other’s exports, remarking the latest escalation of a lacerating trade war between the world’s first- and second-largest economy entering into its second year, nonetheless, later last week, US President Donald Trump had told that the two sides would still meet for a face-to-face talk as early as this month amid tariff hike, a comment widely contemplated as a remark to stable financial markets in the United States.

Nonetheless, an added levy of 5 percent on top of existing tariffs on Chinese exports had already taken effect as it was scheduled by September 1st, GMT 04.01, while US President Donald Trump had reiterated later last week in a tweet that his administration’s target was to reduce reliance on China and US companies should immediately seek for an alternative to China, suggesting a growing acrimony between the nation’s which had little or no possibilities of reaching a solution before United States’ 2020 presidential election.

Aside from that, despite a raft of US-based retailers’ warnings that the added tariffs would be passed on to end consumers, echoing the leads of a US economist, Peter Morici, who claimed that the tariffs would not impact US consumers, US President Donald Trump said on Sunday (September 1st), “We don’t want to be servants to the Chinese!

This is about American Freedom. Redirect the supply chain. There is no reason to buy everything from China! We are talking to China, the meeting is still on, as you know, in September. We’ll see what happens, but we can’t allow China to rip us off anymore as a country.

” Meanwhile, as a response, labelling Trump’s threats and comments as a “school bully,” Chinese official press agency Xinhua said on Sunday (September 1st), “The United States should learn how to behave like a responsible global power and stop acting as a ‘school bully.

As the world’s only superpower, it needs to shoulder its due responsibility, and join other countries in making this world a better and more prosperous place. Only then can America become great again. ”