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Trade War escalates as China announces retaliatory tariffs on US Goods
International

Trade War escalates as China announces retaliatory tariffs on US Goods

Agency News

Beijing, 23 Aug, 2019: China has announced it will raise tariffs on $75 billion of US products in retaliation for President Donald Trump's planned Sept 1 duty increase in a war over trade and technology policy. The official Xinhua News Agency said Friday the tariffs of 10% and 5% take effect on two batches of goods September 1 and December 15 but gave no details on what imports would be affected.

Trump previously announced plans to raise tariffs on an additional $300 billion of Chinese imports on September 1 but postponed a portion of that to December 15.

China's government appealed to Trump this week to compromise in deadlocked talks aimed at settling the dispute that has battered exporters on both sides and threatens to tip the global economy into recession.