Export of iPhones, smartphones, tablets, laptops from India to the U.S. will be 20% cheaper than from China.
President Donald Trump and his advisers said this was the plan all along: Scare the bejesus out of the world by announcing astronomically high tariffs, get countries to come to the negotiating table, and — with the exception of China — back away from the most punishing trade barriers as America works out new trade agreements around the globe.
Beijing on Friday increased its tariffs on U.S. imports to 125 per cent, hitting back against U.S. President Donald Trump's decision to hike duties on Chinese goods to 145 per cent, raising the stakes in a trade war that threatens to upend global supply chains. The countermeasures take effect on Saturday.