Latest U.S.-China tariff and trade stories
Follow CGTN coverage of the United States move to impose tariffs on China imports.
China has pushed through an earlier plan to impose tariffs estimated worth 3 billion US dollars on US goods as compensation for the Trump administration’s duties on imported steel and aluminum, while continuing efforts to discuss cooperation with the world’s largest economy.
The US government's latest tariff plan on imports from China contradicts its commitments that such a decision be based only on the World Trade Organization (WTO)'s Dispute Settlement Body (DSB), said Zhang Xiangchen, Chinese ambassador to the WTO, on Monday during a meeting in Geneva, Switzerland.
U.S./China trade - by the numbers
A change in tariffs and cost of goods will have a ripple effect throughout the U.S. economy. Here are a couple examples from Lisa Chiu's article explaining the close relationship between the U.S. and China.
The conservative American Action Forum published a study showing prices of goods in the United States could increase by up to $250 billion annually under Trump's plans. The AAF believes Trump's policy will increase goods purchased by a total of $1,649 per person in California, and $522 per person in New York.
An analysis by the Peterson Institute of International Economics concludes the poorest U.S. households will be hurt the most by Trump's trade policies. People who make less than $5,000 for example, would see a 12 percent increase in the price of goods they purchase, while people making $150,000 or more would see a 5 percent increase.