China has escalated the trade war with the US by imposing a 34% tariff on American imports and filing a lawsuit with the WTO. This move comes in response to US President Donald Trump's tariffs on Chinese goods. China also plans to strengthen export restrictions on rare earth elements, which are crucial components in advanced technology products. Trump's comprehensive new tariff strategy, which includes higher duties on major allies, specifically targets China with a 34% tariff.
image sourced from original article at https://timesofindia.indiatimes.com/world/china/china-escalates-trade-war-imposes-34-duty-on-us-imports-after-trumps-tariffs-files-lawsuit-with-wto/articleshow/119978069.cmsOriginal article source: https://timesofindia.indiatimes.com/world/china/china-escalates-trade-war-imposes-34-duty-on-us-imports-after-trumps-tariffs-files-lawsuit-with-wto/articleshow/119978069.cms
Source Id: 8620503344
