China Adds Extra Taxes on Some U.S. Products: What’s Going On? 🇨🇳🇺🇸
Hey there! Have you heard about what’s happening between China and the United States? 🤔 Let’s break it down!
What Are Tariffs?
First, let’s understand what tariffs are. Tariffs are like extra taxes that countries add to products coming from other countries. It’s like adding a fee to things when they enter a different country.
What’s Happening Now?
On Tuesday, China decided to add new tariffs to some products coming from the U.S. This means certain goods from the U.S. will cost more when they arrive in China. These are products like coal (which is used for energy) and liquefied natural gas (LNG), which now have a 15% extra charge. Other things like oil, big farming machines, large cars, and pickup trucks have a 10% extra charge. These changes start from February 10th.
Why Is This Happening?
This is happening because the U.S. also increased tariffs on products from China. President Donald Trump signed an order to add a 10% tariff on Chinese goods, and this started on Tuesday too.
What Does This Mean?
China says that the U.S.’s actions go against the rules of the World Trade Organization (WTO), which is a group that makes fair trade rules for countries. China believes that adding these tariffs won’t solve the U.S.’s economic problems and will just make trade between the two countries more difficult.
Did You Know?
Trade between countries is really important! It means countries can buy and sell things they need. When countries add tariffs, it can make things more expensive and harder to get. This can affect businesses and even prices in stores.
What’s Next?
Let’s watch and see how China and the U.S. work through these issues. It’s important for countries to talk and find solutions that help everyone! 😊
Reference(s):
China to impose tariffs on certain imported goods from the U.S.
cgtn.com
