New duties, which take effect on August 23, mirrors latest sanctions imposed by Washington in escalating trade war
China announced late Wednesday that it will impose an additional 25 percent tariffs on $16 billion of U. S. imports.
The 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 administration.
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.
