What does China buy from America? What will be the effect on 125% tariff? – China main import from us tariff war products may hit trump and xi jinping trade war ntcpp
The tariff war between America and China has come out openly. US President Donald Trump is constantly changing his bets. China is also giving equal but equal competition from behind. On Wednesday, Trump increased the tariff limit to 125 percent on the product to be imported from China from China to 125 percent. Earlier, Trump was imposing 104 percent tariffs on China.
Trump took this decision when China imposed 84 percent tariff on the product to be imported from the US.
Please tell that after applying the tariff, the price of a product increases. Trump has imposed 125 percent tariff on China. This means that now whatever American businessmen will ask for goods from China, the price of 125 percent will increase by 125 percent. If the American businessman used to get a goods made in China for the first 1 lakh rupees, then after imposing the tariff, its price will be Rs 2.25 lakh.
This will increase the price of this product in the US market significantly. As a result, people will be forced to buy this goods American or any other cheap option.
Similarly, China’s imposing 84 percent tariff on American product means that now Chinese companies will have to pay 84 percent more to buy goods produced in the US. That is, for the US goods Chinese traders used to ask for 1 lakh, they will now have to pay Rs 1.84 lakh.
What is the trade between America and China?
In 2023, China was one of the largest consumers of American goods. On the basis of the US-China Trade Council, the US exported goods of $ 145 billion to China during this year.
According to CBS News, products sold to China in 2022, especially about 931000 US citizens, were getting jobs from agriculture and livestock.
Which products imports from China?
China buys a variety of products from America. The most prominent among them.
Aerospace Products & Purje: $ 6.8 billion
Basic Chemicals: $ 6.5 billion
Coal and Petroleum Gas: $ 1.1 billion
Communication and Services Industry Machinery: $ 1.3 billion
Computer Equipment: $ 1.8 billion
Electrical Equipment: $ 1.3 billion
Electrical equipment and goods: $ 1.7 billion
Engine and Turbine: $ 1.4 billion
Fruit and Dried Me also: $ 1.1 billion
General purpose machinery: $ 2.6 billion
Industrial Machinery: $ 5 billion
Marine Products: $ 1 billion
Meat Products: $ 4.5 billion
Medical Equipment and Supplies: $ 3.6 billion
Miscellaneous Crops: $ 2.4 billion
Miscellaneous Metal Products: $ 1.6 billion
Miscellaneous built items: $ 2.1 billion
Motor Vehicles Poje: $ 1.7 billion
Motor Vehicles: $ 6.1 billion
Navigational and measurement equipment: $ 6.8 billion
Law Metal Products: $ 1.8 billion
Oil and Gas: $ 17.6 billion
Oilseeds and grains: $ 18.5 billion
Other: $ 15.9 billion
Pharmaceutical Products and Medicines: $ 11.3 billion
Plastic Products: $ 1.4 billion
Pulp and paperboard mill products: $ 2.1 billion
Resin and synthetic fiber: $ 5.5 billion
Scrap product: $ 2.4 billion
Semiconductor items: $ 6.8 billion
Soap, Cleaning Agent: $ 1.3 billion
Now understand which states of America export the most to China
In this, Texas is at the forefront which exports $ 25.7 billion to China.
The second number is California which exports $ 16.4 billion.
Luiziana exports $ 6.5 billion to China.
The total export to China from South Carolina is $ 3.9 billion.
Why does America’s step matters
If high tariffs are applicable, Chinese companies may have to find other markets in the world for cheap options. This will eventually damage American businesses-especially to farmers and manufacturers who depend on selling goods to China. Due to this policy of Trump, purchasing the above items will be very expensive for Chinese traders / companies. If these companies also buy these goods from America at expensive prices, then its price in the Chinese market will increase considerably.
