The trade war between China and the United States shows no signs of abating anytime soon. The White House just announced that President Trump has signed a new executive order imposing tariffs of up to 245% on products imported into the United States from China. So, what should you know about it?
For your information, tariffs, much higher than the previous 145%, were imposed on imports of syringes and needles used for medical purposes. The White House had previously announced it would investigate the country's medical supply chain, which it said was overly reliant on Chima.
Additionally, the tariff increase was imposed because China retaliated by suspending exports of rare earth elements and imports of chips produced by US foundries . In addition, tariffs were also imposed because China allegedly failed to control the production of the drug fentanyl which then entered the United States illegally.
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