US-China biggest trade war in history begins

SANAA, July 7 (YPA) – In a sign of starting a trade war between the world’s two largest economic powers (US and China), the U.S. started its trade war against China by imposing tariffs on Chinese goods worth 34 billion dollars.

The fee rate is 25 percent, and implementation began after midnight in the United States.

China responded by imposing a similar tariff (25 percent) on 545 US products, also worth $ 34 billion.

Beijing accused the United States of American of launching “the biggest trade war in economic history.”

The Chinese Ministry of Commerce said: “The Chinese side has vowed not to launch the first shot, but was forced to respond to protect the interests of its people.”

Earlier this year, the US President Donald Trump ordered the competent authorities to levy a tariff of 50 billion dollars worth on the Chinese goods and start the implementation of the first batch on Friday.

E.M