look news india
Washington: President-elect Donald Trump said on Monday that he has vowed to impose heavy import taxes on goods imported from Mexico, Canada and China. China hit back against this and said, “No one can win in this trade war.”
In a series of posts on his Truth social account, he called for heavy import taxes on everything coming from America’s biggest trading country.
He said, ‘When I take charge on January 20, my first order will be to impose 25 percent import tax on goods coming from Mexico and Canada. In another post it was written that they will also increase the duty on goods imported from China. (Therefore, it is clear that 60 percent duty should be imposed on goods imported from China.’) Along with this, he said that strict steps will also be taken to stop smuggling of drugs like fentanyl. (Fentanyl is a narcotic drug similar to the drug opium.)
Even during his election campaign, Trump had announced imposition of heavy duties on imports from many other countries. In this he took an oath to impose 60 percent import tax on China, which is well known.
After this announcement, both China and Canada started reacting immediately. Everyone said why does Trump forget that there is mutual benefit.
Biu Pengyu, spokesman for China’s US embassy, said there will be no winner in this trade war. (Trump) Why forget that China-US trade relations are mutually beneficial.
Canada said that America is currently buying our electricity. Which is really beneficial for American workers. Canadian Deputy Prime Minister Chrystia Freeland said, “We will discuss this with the newly formed US administration.”
It is noteworthy that when Trump came to the presidency for the first time, he had made his trade policy very strict. He also targeted China, Mexico, Canada and Europe in his trade policy.
This time, China is counting on counter-attacks against future trade policy. If this happens, American farmers are likely to suffer losses, as most of the goods imported from China are agriculture related.