The trade war between China and the United States shows no signs of abating anytime soon. The White House announced a short while ago that President Trump has signed a new executive order imposing tariffs of up to 245% on products imported into the United States from China.
A much higher tariff than the previous 145% was imposed on imports of syringes and needles used for medical purposes. The White House previously announced that it would conduct an investigation into the country's medical supply chain, which is said to be overly dependent on Chima.
The tariff increase was imposed because China retaliated by suspending exports of rare earth elements and imports of chips produced by US foundries. In addition, the tariff was also imposed because China allegedly failed to control the production of the drug fentanyl, which then entered the United States illegally.