Only one week after Donald Trump announced new trade tariffs on imported aluminium and steel, the US president is reportedly set to sign them this afternoon. They'd take effect within a month.
Washington has banned exports to the Chinese state-controlled chipmaker accusing Fujian of stealing intellectual property. The move comes amid reports that the US plans to slap tariffs on all of China's imports.
Amid intensifying trade friction between Washington and Beijing, a new round of US tariffs took effect on Monday, raising the stakes for both sides. China seems to have several tools up its sleeve to counter US tariffs.
In the wake of US tariffs on steel and aluminum, the EU has made several counter moves and has now raised tariffs of its own on steel imports which exceed quotas based on current levels.
In a move earlier flagged by officials in Ankara, Turkey has lodged a complaint at the World Trade Organization against new US duties on steel and aluminum. The move comes amid an intensifying political spat with the US.
© 2018 Deutsche Welle |
Legal notice |
| Mobile version