Friday, June 15, 2018

China announced it will retaliate against Trump’s new tariffs

Vox - All

Chinese officials said the new tariffs would target states with a lot of Trump supporters.

President Donald Trump announced yesterday that he would impose $50 billion in tariffs on Chinese imports. Now China has swiftly retaliated with promises to impose tariffs on US goods of the “same scale and the same strength.”

The US and China have been on the brink of a trade war for months as tensions between the two countries continue to rise over what the Trump administration characterizes as China’s “unfair” trade tactics. The administration claims, among other things, that China forces foreign companies to spill American technology secrets in order to do business in their country.

The administration announced on Friday that about $34 billion worth of Chinese goods will be subject to tariffs starting July 6. An additional $16 billion worth of products will be subject to further review and public hearings.

China has said it would purposely enact tariffs that will affect American farmers and industrial workers in the Midwest — states that have large populations of Republican Trump supporters.

Read more
https://www.vox.com/world/2018/6/15/17467888/trump-us-china-taxes-tariffs-import-trade-war-goods

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