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Trump remains adamant despite Chinese tariff

US President Donald Trump remained adamant on Monday on his policy to impose a hefty import duty on Chinese products, which has resulted in a quick retaliation from China and a massive downslide in the American stock market fearing a US-China trade war.

“There can be some retaliation, but it can’t be very, very substantial, by comparison,” Trump told reporters at the Oval Office of the White House, which was soon after China announced retaliatory tariffs on import of American products.

Last Friday, Trump increased the import duty on Chinese products worth USD 200 billion from 10 per cent to 25 per cent.

He has also started the process of a similar increase on the remaining Chinese imports of over USD 300 billion.

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