China going to make trade deal with US
11, Jun 2019
Prelims level :
Mains level :
CONTEXT
- China will be left with no other option but to enter into a trade deal with the United States because increased tariffs on Chinese products is having an impact on its economy.
- China will subsidise their product because there is a need to keep people working, so China is going to pay a lot.
- The US has put 25 percent tariffs on 250 billion dollars of Chinese goods, including 50 billion dollars of high-technology equipment and things.
- In recent months, Trump has ordered for another round of tariffs on the rest of the Chinese imports amounting to 300 billion dollars.