The latest list of tariffs released has hit the Chinese export industries and is more likely to aggravate the threat to the overall Chinese economy. On July 6th the U.S. imposed a fest set of tariffs on Chinese imports, which clearly states that America is targeting their market in disguise.
China stumbles upon America’s trade fury, resulting in a major market drop in Asia as well. The imposition of 25% tariff, which is worth 34 billion dollars has decreased products sale in the U.S., however, China is determined to cope up with this situation by exploring newer market dimensions in Asia and Europe.
They are tapping their domestic market and it has helped them absorb the surplus of exports and navigate sales through local trades. 2018 has marked the biggest vocational war between President Trump’s reign and China’s international trades. America has persistently accused China of their industrial dominance saying they are stealing their technological advancements. Evidently, the U.S. has been suffering from huge trade setbacks attributed to the outlasting perseverance of China’s ballooned record of industrial presence. China on Wednesday blamed the U.S. for bullying them and threatened that they would hit back in retaliation of the dollar drop they have encountered since America raised their stakes.
The market stakeholders, unfortunately, cannot believe that America would pursue such stringent tactics to hide their insecurity and actually believe that they are doing a good job.