In the latest round of tariffs, U.S. President Donald Trump announced he would be move forward with imposing a 10% tariff on $200 billion worth of Chinese goods that includes a step-up increase to 25% by the end of the year. The new round of U.S. tariffs on 10% of Chinese goods signals that the U.S. won’t relent on the application of pressure to force China’s hand in making a deal when actual negotiations materialize.
The list of goods affected by the new round of tariffs was apparently modified by the White House, which removed about 300 goods from an initial list that included smart watches, certain chemicals, bicycle helmets, high chairs, and other goods.
Despite this, it took less than 24 hours for China to respond to the latest salvo of tariffs fired off by U.S. President Donald Trump as Beijing announced it will impose $60 billion worth of tariffs on U.S. goods, which took effect today. The new round of tariffs from China are said to affect a list of 5,207 products within a range of 5 to 10%.
Both the U.S. and China have already slapped each other with tariffs worth $50 billion total.
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