Tariff war is seen sprinkling between China and AmericaSince becoming the President of America, Donald Trump has been imposing tariffs (tax) on imports from one countries one after the other and it has created panic in the world economy. Trump increased the tariff on China from 10% to 20% on Tuesday, March 4. Now taking counter action, China has imposed a tariff of 15% on many American imports.

The Finance Ministry of Beijing has announced 15% tariffs on many American agricultural imports including chicken, wheat, maize and cotton. Also, 10% tariffs have been applied on other products like soybean, pork, beef, fruits, vegetables and dairy products. These taxes will be applicable from March 10. Also, China’s Ministry of Commerce has added 10 American companies to the so -called “unreliable entity list” and 15 US institutions in the export control list, which will be effective from today.