In Kathmandu, China has retaliated against American tariffs by imposing tariffs on goods worth approximately 14 billion dollars. This move has raised concerns about the possibility of an escalating trade war between the world’s two largest economies, as reported by the BBC.
Earlier, President Donald Trump had announced a 10% tariff on all goods imported from China, which was met with Beijing indicating that it would provide a necessary response. However, the tariff imposed by China differs from that of the United States, as it targets specific products such as gas, coal, crude oil, agricultural products, and certain vehicle parts, with tariffs ranging from 10% to 15%. This selective approach by China is seen as a strategic move to minimize the impact on certain sectors.
On Sunday, the Chinese embassy in Washington confirmed that the tariffs had been implemented from midnight according to Beijing time. In addition to tariffs on goods, China has also imposed restrictions on the export of 25 rare metals crucial for electrical and military equipment manufacturing.
Ramesh Khatri, the representative of Kansai Nepal News, believes that this tit-for-tat escalation of tariffs between the US and China could have widespread implications on the global economy. He emphasizes the need for both countries to engage in constructive dialogue to prevent further damage to international trade relations.
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Author: MAYA | HARUTO
Posted at: February 10, 2025 7:00 pm
