China is slapping additional 25 per cent tariff on another $16 billion worth of US goods, effective on Auguste 23, the same day that the US plans to collect 25 per cent extra tariffs on $16bn of Chinese goods, said the Chinese commerce ministry late Wednesday.
The move comes in response to the US’ announcement of another round of tariffs on $16 billion worth of Chinese goods one day earlier.
China’s Commerce Ministry said the US decision to place a new round of tariffs on Chinese goods is “unreasonable” and China decided to take counter measures, matching the tariffs in percentage and value, to protect the interests of the nation and its people.
So far, China has now either imposed or proposed tariffs on $110 billion of U.S. goods, representing the vast majority of its annual imports of American products. Big-ticket US items that are still not on any list are crude oil and large aircraft.
The US is conducting a public comment period for those tariffs, which could reach 25 percent, due to end Sept. 5. It would take a few more weeks to revise the list and make programming changes at US Customs and Border Protection to begin collecting the duties.