Trump Approves 25% Tariff On Chinese Goods

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Web Desk (June 16, 2018):  US President Donald Trump is to impose 25% tariffs on $50bn worth of Chinese goods.

Tariffs that affect more than 800 products worth $34bn in annual trade are due to come into effect on 6 July.

The White House said it would consult on tariffs on the other $16bn of products, and would apply these later.China retaliated, saying it will impose an additional 25% tariff on 659 US goods worth $50bn.

The US had earlier warned that it will impose even more tariffs should China retaliate.

Mr Trump said the tariffs were “essential to preventing further unfair transfers of American technology and intellectual property to China, which will protect American jobs.”

The Chinese product lines that have been hit range from aircraft tyres to turbines and commercial dishwashers.In response, China announced tariffs on $34bn of US goods including agricultural products, cars and marine products which will also take effect from 6 July.

Tariffs on other US goods will be announced at a later date.

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Originally Posted on Abbtak Tv

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