Beijing
China announced on Friday it will hit United States imports worth $75 billion with new tariffs as retaliation for Washington’s planned tariff hikes, further intensifying the pair’s bruising trade war.
The punitive tariffs of 5 to 10 per cent will apply to 5,078 items from the US, starting September 1 and December 15, China’s state council tariff office said.
Beijing also announced it will impose a 25pc tariff on US autos and a 5pc tariff on auto parts, also starting December 15.
The escalating trade war between the world’s two largest economies is adding to growing fears of a possible recession in the US, with the tariffs weighing on global trade and both countries’ growth.
China has hit back with duties on around $110 billion of US goods — or nearly all of the $120 billion worth of American goods it imported last year. Some of those goods will now likely have their tariff rates raised even further.—AFP
