China’s commerce ministry has responded in kind to the Trump administration’s latest trade threats, announcing plans to hit $16bn worth of US goods with a 25 per cent tariff rate.
Reuters reported on Wednesday that the tariffs would be implemented on 333 products and take effect just after midnight on August 23, according to a statement from the Chinese ministry. Among the US products to be targeted include coal and diesel, cars and bicycles, medical equipment and steel products, according to Reuters.
The move mirrors the Trump administration’s decision to push ahead with plans to impose additional 25 per cent tariffs on $16bn of annual imports from China later this month, following a first round of tariffs on $34bn of imports that went into effect on July 6.
The two countries have been locked in a back-and-forth over trade, with US President Donald Trump accusing them of taking advantage of global trading partners while China has pledged to defend its interests.
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