China will levy an additional 50 per cent tariff on US goods on top of 34 per cent already announced, a tit-for-tat retaliation against US President Donald Trump’s tariffs in the escalating trade war between the world’s two largest economies.
The Office of the Customs Tariff Commission of China’s State Council said the new tariffs would take effect after midday in Beijing on Thursday and were in response to an additional 50 percentage point punitive charge Washington levied on China on Wednesday.
The across-the-board tariffs, which will take additional levies being charged on all US goods from Thursday to 84 per cent, will hit American exports of machinery, semiconductors, agriculture and other goods.
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