Dhaka, April 10 -- President Donald Trump has announced a 90-day pause for countries hit by higher US tariffs but a trade war with China has escalated.
In a dramatic change of policy, just hours after levies against roughly 60 of America's trading partners kicked in, Trump said he was authorising a universal "lowered reciprocal tariff of 10 per cent" as negotiations continued.
At the same time he increased tariffs on goods from China to 125 per cent, accusing Beijing of a "lack of respect" after it retaliated by saying it would impose tariffs of 84 per cent on US imports.
This comes a week after Trump announced import taxes on all goods entering the US, in the biggest upheaval of international trade in decades, reports BBC.
His plan s...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.