US, China impose further tariffs, escalating trade war


china united states(Worthy News) – The United States and China escalated their acrimonious trade war on Thursday (Aug 23), implementing punitive 25 percent tariffs on US$16 billion worth of the other’s goods.

The latest round brings to US$50 billion the value of imports subjected to tariffs on either side since early July, and more are in the pipeline, adding to risks for global economic growth.

Washington is holding hearings this week on a proposed list of an additional US$200 billion worth of Chinese imports to face duties. [ Source: Channel News Asia (Read More…) ]

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