U.S. announces new tariffs on $200 billion in Chinese goods

On Tuesday, the Trump administration announced tariffs on $200 billion in Chinese goods, just one week after imposing a 25 percent tariff on $34 billion worth of items.

President Trump had warned China that if the country retaliated to those tariffs, he would impose additional ones; China did, quickly adding tariffs to more than 500 different American imports. The new tariffs will not immediately go into effect, instead going through a two-month review process, with hearings in late August. U.S. Trade Representative Robert Lighthizer said in a statement that this is “an appropriate response,” as China has for years “pursued abusive trading practices with regard to intellectual property and innovation.”

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Source:: The Week – Business


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