US to impose 10% tariffs on Chinese exports worth $200 billion from September as part of latest step in ‘largest trade war in economic history’
The United States on Tuesday announced it was starting the process to slap 10 percent tariffs on another USD 200 billion in Chinese export goods as soon as September, escalating the trade war between the world’s two largest economies.
President Donald Trump vowed to hit back on a growing list of products after China retaliated in kind for the first round of 25 percent tariffs on USD 34 billion worth of imports that Washington imposed last week.
If Trump goes ahead, it would mean thousands of products from fish to chemicals, metals and tires would face new taxes.
US Trade Representative Robert Lighthizer said Washington did a thorough investigation to justify imposing tariffs on USD 50 billion worth of imports to compensate for the harm to the US economy caused by China’s unfair trading practices, including theft or forced transfer of American technology.
