China and the United States Go to Trade War as Tariffs Materialize

The simmering trade war between China and the United States of America is set to blow up as the tariff deadline set by the US come into effect this Friday.

The United States imposed tariffs worth 34 billion US Dollars on Chinese imports, a move that China threatened to counter immediately after it takes effect.

In retaliation, China has also imposed a 34 billion US dollar worth of tariffs on goods from the US such as autos and agricultural products.

China has termed US move as a great violation of the international trade rules set to hurt, not only the two countries but others as well.

President Donald Trump has threatened that the US is in the process of targeting Chinese goods worth 500 billion US dollars, an equivalent of the total amount that the US imported from China.

The deadline impacted negatively on Chinese shares which declined at the choppy trade. At the same time, the yuan currency weakened shortly towards the deadline.

The trade war between China and the United States has officially kicked off according to economic analysts.