Reciprocal tariffs to become a reality?
According to a latest Barron’s report, Trump has mentioned that he will be bringing in tariffs that will be ‘reciprocal’ to the kind of tariffs for American products in those countries. This will help in balancing the ‘imbalance of trade’, among both countries, according to reports.
China-US trade relations to improve?
For starters, the trade imbalance between China and the US is approximately $295.4 billion, and with Mexico, it is $171.8 billion, according to a previous ET report. If the decision by Trump to bring in reciprocal tariffs indeed goes through, that could have a chance at deflating trade tensions between China and the US that have developed over the recent weeks over the imposition of 10% tariffs on Chinese imports by the new US President.
FAQs:
Are China and the US allies?
As of now, China and the US are not exactly allies but have trade relations with each other.
Has Donald Trump imposed tariffs on China?
Yes, Donald Trump has decided to impose tariffs on Chinese-made goods that come into the United States.
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