That's amid the ongoing trade war with Beijing. The companies say consumers will suffer from the tariffs. Earlier Donald Trump hiked duties from 10% to 25% on 200 billion dollars'-worth of Chinese goods. Despite the moves, the President believes he will reach a new trade deal with Beijing.
China, in retaliation, plans to raise import tariffs to 25% from next month, till a deal is reached.
The trade spat between the world's two largest economies has been somewhat of a spirit-raising challenge in China, with this song going viral...
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