US getting ready to impose new tariffs on China

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US getting ready to impose new tariffs on China

July 11, 2018 - 09:40
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US raised the stakes in its conflict with China announcing its intention to impose additional 10% tariffs to $200 billion of Chinese import, Reuters reports.

Washington, US | CC0 1.0

US raised the stakes in its conflict with China announcing its intention to impose additional 10% tariffs to $200 billion of Chinese import, Reuters reports.

List of goods includes hundreds of food products, as well as tobacco, chemicals and coal. There are also consumer goods on the list, including tires, furniture, handbags, carpets, bicycles and toilet paper.

Tariffs amounting to 25% were applied to $34 billion Chinese goods last week. China took the same step towards the US.

Some experts think that actions taken by Trump’s administration will result in higher prices of goods for American families and higher costs of materials for producers. Besides, it will result in another wave of countermeasures on behalf of China.