9 Aug 2018
China Matches US Tariffs with Levy on Additional US$16 Billion of Imports
China is to impose import surcharges of 25% on an additional 333 categories of US-origin goods as of 23 August. With a total value estimated at around US$16 billion, the goods affected include certain automobiles, medical equipment and several chemical/energy products.
This latest round of tariff hikes marks the continuing escalation of the tit-for-tat trade war initiated by the US. At present, the two sides have both taken action against $50 billion worth of each other’s exports.
For further details (in Chinese), please visit the following links:
Announcement of the Customs Tariff Commission of the State Council on Levying Additional Tariffs on US$16 Billion Worth of Import Goods Originating from the US (Customs Tariff Commission Announcement No. 7