CHINA RAISES TARIFFS ON THE U.S. AND CUTS DUTIES ON GOODS FROM OTHER COUNTRIESMac Slavo | WHAT REALLY HAPPENED

CHINA RAISES TARIFFS ON THE U.S. AND CUTS DUTIES ON GOODS FROM OTHER COUNTRIESMac Slavo

China isn’t backing down when it comes to the trade war. The Chinese government has just raised tariffs on imports coming in from the United States and cut duties on goods from other countries.

In addition to gaining an edge against the U.S. in the trade war, lowering tariffs on products originating from other countries allows China to limit the damage on its economy, PIIE (Peterson Institute for International Economics) said, according to CNBC. Such a move by China has placed American firms at a “considerable cost disadvantage,” said PIIE researchers, who include notable trade expert Chad P. Bown.

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