China Announces New Set of
Retaliatory Tariffs on US Goods
August 09, 2018
China announced late Wednesday that it will impose an additional 25
percent tariffs on $16 billion of U.S. imports.
new tariffs will take effect on August 23, matching exactly a new round
of U.S. tariffs on Chinese goods announced Tuesday by the Trump
The latest tit-for-tat tariffs have
accelerated a trade war between the world's two economic superpowers
that began July 6, when Washington officially imposed 25-percent tariffs
on more than 800 Chinese products worth $34 billion. Beijing retaliated
by imposing the same percentage of retaliatory tariffs on 545 U.S.
items, also worth $34 billion.
The Trump administration has also threatened to apply an extra
25-percent tariffs on an additional $200 billion worth of Chinese
U.S. President Donald Trump has cited China’s unfair trade practices and
intellectual property theft as a reason for the tariffs.
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