Friday, August 23, 2019

China imposes more tariffs on U.S.

China’s commerce ministry said it will increase tariffs by five and 10 per cent on a total of 5,078 products originating from the United States including agricultural products such as soybeans, crude oil and small aircraft.

China is also resuming tariffs on cars and auto parts originating from the United States.

It’s retaliation for U.S. President Donald Trump’s declaration that tariffs on $300 billion worth of Chinese goods will increase by 25 per cent in stages on Sept. 1 and Dec. 1.