May 10 | 2019
US Raises Tariffs on US$200 Billion of Chinese Goods
Following a new increase in tariffs on Chinese imports by the Trump administration, China has indicated its will take all “"necessary counter-measures.”
The latest trade tensions follow an increase in U.S. tariffs from 10 percent to 25 percent on an estimated US$200 billion worth of Chinese goods. A cooling in relations last week, suggested that ongoing negoitations are no longer progressing as hoped.
International markets reacted negatively to the news as U.S. tariffs hit goods departing China after 12:01 a.m. Friday. A Chinese delegation was in Washington Friday for the 11th round of China-U.S. high-level economic and trade consultations.
“With this round of talks still ongoing, China hopes that the United States can meet China halfway, and that the two sides will make joint efforts to resolve existing problems through cooperation and consultation,” the delegation said, according to official Chinese agency Xinhua.
Photo: Donald Trump and Xi Jinping. Credit: Wikimedia
The latest trade tensions follow an increase in U.S. tariffs from 10 percent to 25 percent on an estimated US$200 billion worth of Chinese goods. A cooling in relations last week, suggested that ongoing negoitations are no longer progressing as hoped.
International markets reacted negatively to the news as U.S. tariffs hit goods departing China after 12:01 a.m. Friday. A Chinese delegation was in Washington Friday for the 11th round of China-U.S. high-level economic and trade consultations.
“With this round of talks still ongoing, China hopes that the United States can meet China halfway, and that the two sides will make joint efforts to resolve existing problems through cooperation and consultation,” the delegation said, according to official Chinese agency Xinhua.
Photo: Donald Trump and Xi Jinping. Credit: Wikimedia
