US President Joe Biden has imposed significant new tariffs on Chinese imports, targeting sectors like semiconductors, electric vehicles, and medical supplies. This move continues the trade tensions initiated in 2018. The tariffs, phased in over two years, affect $18 billion of Chinese goods. China plans to retaliate but is expected to respond minimally due to its economic challenges. For India, this presents opportunities to increase exports in medical supplies and metals but also risks from surplus Chinese products flooding the market. The situation underscores the need for global trade resilience amid ongoing US-China economic conflicts.
New US Tariffs on Chinese Goods: Impacts and Opportunities
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