Trump’s trade war continues to escalate.
China on Wednesday slapped the United States with 25 percent tariffs on $16 billion worth of U. S. goods, a direct response to President Trump’s earlier decision to impose similar tariffs on $16 billion worth in Chinese goods.
The announcement comes less than 24 hours after the U. S. Trade Representative’s office released a finalized list of 279 Chinese products targeted by the tariffs, which includes a variety of electronics, plastics, chemicals, and railway equipment, according to Reuters. The targeted items were selected specifically to hamper China’s ability to compete in the tech world.
China has targeted crude oil and cars in this latest round of retaliatory tariffs, according to CNBC.
