he United States hiked its tariff on approximately $200 billion worth of Chinese goods after it accused the Asian country of “breaking” the deal formerly agreed between the two countries.
This comes as the US President Donald Trump accused China of “breaking” the initial deal between the two countries.
Approximately 25% hike in tariff was imposed on Chinese goods by the U.S. Customs and Border Protection on approximately 5700 categories of Chinese products on Friday.
China has threatened it will respond in kind however, negotiators on both parties have agreed to stay back to work together to iron out a deal. The U.S. President has embarked on an America-first policy which saw the nation fighting almost any country it perceived as having an unfair or unbalanced deal with the United States.
One of the hardest hit sectors as a result of the sudden United States’ move to hike tariff on Chinese goods is a $20 billion market catering to categories of goods which include internet modems, routers and data transmission products and approximately $12 billion market which caters to printed circuit boards which are used in many made-in-US products.