A penalty levied by the U.S. government in the form of a 25% tax on $34 billion worth of Chinese goods came into effect on 12:01 AM EST on July 6, 2018. The 25% ad valorem duty rate is in addition to any pre-existing duty already imposed on the list of goods.
Foxconn, the Taiwan-headquartered electronics manufacturer, opened a new manufacturing facility in Wisconsin, U.S. yesterday. The planned $10-billion plant is considered one of the largest foreign direct investment projects ever in the United States.
On June 18 evening (EDT), U.S. President Donald Trump announced another tarriff on $200 billion worth of imports from China; Ministry of Commerce in China responded immediately saying “it is blackmail and an extreme threat.”
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On May 13, Trump tweeted to lift the ban on ZET that suspended its major business after being stopped from using the components made in the US.
During the 2018 annual conference of the Boao Forum for Asia (BFA), Jack Ma said that if China-U.S. economic and trade relations deteriorate, the promise he made last year during a meeting with U.S. President Donald Trump to create a million jobs in the United States will become null and void.