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China’s action against Trump Tariff : Due to the strict tariff policy of US President Donald Trump, China is trying to improve bilateral trade relations with India. Beijing’s ambassador has claimed that China will import more goods from India instead of America for business balance. Along with Japan and South Korea, China has also prepared to respond to the American tariff.
Beijing’s Ambassador Zhu Fayang told the media that after the US announcement of tariffs, we are making efforts to further strengthen and cooperate with India in trade and other fields. More and more Indian products will be imported into the Chinese market.
Business of $ 101.7 billion between India and China
Relations between India and China may be bitter, but bilateral trade relations are strong. According to data from the country’s Ministry of Commerce, there will be a trade of $ 101.7 billion between the two countries in 2023-24. The total value of India’s major imports, including petroleum oil, iron ore, sea product and vegetable oil, was $ 16.6 billion.
Revolutionary tariff may be applicable from April 2
Trump has announced the implementation of mutual tariffs from 2 April. The United States has shown its readiness to impose tariffs on countries that tariff it. Apart from this, he also announced to impose 20 percent tariffs on all Chinese products. Like the United States, Trump’s policies can also affect trade relations. Due to this, the possibility of trade war is increasing worldwide.
China’s eye on Asian markets
In addition to China’s desire to buy more products from India, it is also preparing to deepen trade relations with Japan and South Korea. The Chinese government media said that they are ready to respond to the American tariff with Japan and South Korea. Japan and South Korea want to import semiconductor chips from China, while China also wants to buy chip products from Japan and South Korea. All three countries have agreed to strengthen supply chains and discuss export control.