President Trump trade ware with china is entered to a new level. American Tariffs on foreign goods had already climbed much more higher then any time since the 1960s before Sunday, when the united states imposed a new 15 percent tariff. The levies on food, clothing, lawn mowers and thousands of other “made in china” products come as the president prepares to Tax nearly to everything China ships to Amrica. The move will bring average tariffs on chines import to 21.2 percent, up from only 3.1 percent when Mr Trump came into office, according to data from the Peterson Institute for International economics.
China has responded by raising barriers to American companies and thier products, while easing them for other nations. Trade between the world’s two largest economies has slumped, and china which had long been America’s biggest trading partner, dropped to third place in the first half of the year, behind Mexico and Canada.
American companies that once believed the trade war would below over are now scrambling to limit that exposure to China, in some cases shifting productions to other countries, like Vietnam, to avoid tariffs that will soon reach as much as 30 percent.
When he initially began his trade ware, the president said his goal was to improve conditions for American companies operating in china, reduce the trade deficit between the two nations and create a more level playing field for American companies competing with chines firm.
His Combative approach, he said, would secure a historic trade deal that would result in china buying billions of dollars worth of American farm products and stop Beijing from ” stealing” technology from United states Companies.