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China Announces Another $60 Billion in Tariffs on U.S. Goods
China says it will begin collecting tariffs on $60 billion worth of goods from the U.S. on Sept. 24.
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China says it will begin collecting tariffs on $60 billion worth of goods from the U.S. on Sept. 24.
The new taxes are a response to the 25% tariffs on $200 billion worth of Chinese imports that the Trump administration said yesterday it will begin collecting on the same date. Both countries are already imposing tariffs on $50 billion worth of each other’s goods.
Reports say China’s new tariffs will range from 5% on items such as small aircraft, computers and textiles, to 10% on products such as chemicals, meat, wheat and wine. The new U.S. levies target nearly 6,000 items ranging from food to consumer goods.
President Donald Trump appears likely to trigger an additional $267 billion in taxes on Chinese imports because of China’s response. Doing so would expand the U.S. tariffs to cover almost everything China ships to the U.S.
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