You and your wallet could be affected by the tariffs
China has said that it’ll “take the necessary measures” to counter US President Donald Trump’s 10% tariffs on Chinese exports. It added the tariffs would disrupt economic and Trade cooperation between China and the US. It further said that it will launch a case against the US in the World Trade Organization (WTO). Trump on Thursday imposed tariffs on $50 billion of Chinese goods.
There is a reason why it matters to carmakers
China has said the US tariffs “severely violate” World Trade Organization (WTO) rules and disrupt normal economic and trade cooperation between China and the US. The Chinese government added that the measures were “fairly modest”. It also said that the targeted goods represent about a twelfth of China’s total imports from the US.