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China to impose additional tariffs on US imports worth $75.0b

Published: August 23, 2019 19:11:26 | Updated: August 24, 2019 16:56:51


China will impose additional tariffs on US imports worth about $75.0 billion in response to the newly-announced US tariff hikes on Chinese goods.

The Customs Tariff Commission of the State Council of China made the announcement on Friday, reports the official Xinhua News Agency.

The tariffs of 10 per cent and 5 per cent take effect on two batches of goods on September 1 and December 15, , deepening a trade war that threatens to tip the global economy into recession.

The report gave no details of what goods would be affected but the timing matches Trump’s planned duty hikes.

The spiraling conflict over China’s trade surplus and technology ambitions has fueled concern among companies and investors that it might drag down already weakening global economic growth.

China’s government appealed to Trump this week to compromise in order to break a deadlock in negotiations.

Trump previously announced plans to raise tariffs on an additional $300 billion of Chinese goods after talks broke down in May. They were due to take effect September 1 but some were postponed to December 15.

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