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China to impose fresh tariffs on US goods, including cars

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Published in Business News

BEIJING -- China on Friday said it plans to impose tariffs on an additional $75 billion worth of U.S. goods imported into the country.

The tariffs will range between 5% and 10% and be implemented in two phases on Sept. 1 and Dec. 15, the Customs Tariff Commission of the State Council has announced.

In a separate announcement, China said it would impose tariffs of 25 percent and 5 percent on U.S. cars and parts on Dec. 15.

It is the latest announcement in a tit-for-tat trade war with the United States. China last week warned it would retaliate if the US goes ahead and raises tariffs on $300 billion worth of Chinese imports.

The new U.S. tariffs were initially set to take effect on Sept. 1, but Washington last week postponed the enactment of some duties until Dec. 1 to help.

 

The U.S. and China have been caught up in a yearlong trade war that is slowing the world economy. Washington has already slapped tariffs on $250 billion worth of Chinese goods, to which China has retaliated with duties on $110 billion worth of U.S. imports.

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