The ongoing trade war between the world's two biggest economies, China and the United States, is set to escalate further as US President Donald Trump on Thursday (6 June) said that he will be deciding on enacting tariffs on another $325 billion worth of Chinese imports after the G-20 summit in Japan, reports LiveMint.
President Trump said that he will be making the decision on the issue after the G-20 summit scheduled to be held at the end of June in Japan. It should be noted that President trump is expected to meet with China's President Xi Jinping at the summit.
The tariff war between the two countries escalated last month after US President imposed tariffs of 25 per cent on Chinese imports worth $200 billion following an impasse in trade talks.
While imposing the tariffs on Chinese imports, the US administration had blamed China for reneging on the provisions of a tentative deal while the Chinese counterparts riposted by blaming US for the breakdown in talks. The Chinese have since vowed to reciprocate against the increased tariffs in various ways.
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