BUSINESS

United State unveils next round of Chinese imports to face tariffs

tariffs

Washington: The Trump administration has unveiled a new list of $16 billion worth of imports from China that will be hit with 25 per cent duties from August 23, marking the second time Washington has slapped extra tariffs on Beijing.

The move on Tuesday marked the latest escalation of a trade war between the world’s two largest economies. The tariffs targeted 279 Chinese products including motorcycles, speedometers and antennas, CNN reported.

The announcement came despite persistent warnings by American businesses that it will raise the price of goods for consumers.

President Donald Trump has accused China of unfair trade practices and has long vowed to bring down the US’ trade deficit in goods with Beijing. This will add to the package that the US government announced in June, which came into force partially at the beginning of July, and will hit $50 billion in goods in total.

In the first round of tariffs, the US targeted a total of 1,300 Chinese goods, from advanced manufacturing and aerospace to information technology and robotics. It imposed 25 per cent tariffs on $34 billion in Chinese imports, the Department of Commerce said.

Beijing, accusing the US of trade bullying, retaliated to the July move by imposing tariffs on an equal measure of American goods. (IANS)