Investing.com – China said it would impose new tariffs on U.S. goods worth $60 billion effective Sept. 24, the same day that the Trump administration puts into practice a 10% tariff on $200 billion in Chinese goods, which was announced late Monday.
Beijing’s tariffs will affect 5,207 American products and range between 5% and 10%, Reuters reported.
President Donald Trump had promised that the 10% tariffs going into effect next week would be raised to 25% in January and warned China that any response would result in a new round of tariffs on another $267 billion of additional Chinese imports.
Prior to the report, Trump accused China of actively trying to impact the election by targeting farmers, ranchers and industrial workers that support him as president and repeated that Beijing has been taking advantage of the U.S. via trade for many years.
“They also know that I am the one that knows how to stop it,” Trump tweeted on Tuesday. “There will be great and fast economic retaliation against China if our farmers, ranchers and/or industrial workers are targeted!”
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Source: Investing.com
