The United States will levy another batch of tariffs on Chinese imported goods worth $16 billion, the Office of the United States Trade Representative announced today.
CGTN’s Sean Callebs has the latest report.
This will bring the total amount of U.S. tariffs on Chinese products to $50 billion worth of goods.
China has said that if the additional U.S. tariffs go forward, it would follow suit with retaliatory tariffs on U.S. imports to China — also on $16 billion worth of goods.
The USTR also released the list of the 279 products that will face the additional tariff of 25 percent. The tariffs go into effect on August 23, 2018.
The list was revised down from a proposed list of 284 products after the USTR sought written comments and testimony last month.
On July 6, 2018, the USTR levied tariffs on $34 billion worth of imports from China, and China followed suit with $34 billion in retaliatory tariffs.
Marc Ross discusses impact of China-US trade conflict on global economy
CGTN’s Mike Walter spoke to Marc Ross to find out what was in store for the U.S. and Chinese economies as a result of the trade conflict. Ross is the Founder of Caracal Global; he works with companies at the intersection of globalization and politics.