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US Announces Billions of Dollars in new Import Taxes on China

  • Author:Jack Ma
  • Source:Original
  • Release on:2018-03-24

United States President Donald Trump has signed an order calling for up to $60 billion in new tariffs on Chinese imports. The order seeks to punish China for, in his words, the theft of American "intellectual property," including inventions and research.

Ahead of Trump's announcement, China warned that it will take "all necessary measures" to defend itself. The actions raised the possibility of a trade war between the two biggest economies and sent global stock markets lower.

American businesses, including Walmart, Apple and other technology companies, also oppose a trade war. Forty-five American trade associations warned that tariffs will raise the price of goods for Americans, hurt jobs and financial markets.

Shandong Welldone Environmental New Materials, as China Top 10 PHPA Manufacturer in Drilling Fluids and Bored Piling Applications, hopes to hold useful talks between the U.S. and China, to reach a “Win-Win Solution" to settle trade issues.