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Trade War Update: Us Taxes 25% On $16bn Of Goods To China
- Aug 11, 2018 -

The latest news of the trade war came to light. On Wednesday Beijing time, the United States announced a 25 percent tariff on $16 billion of Chinese goods. It is understood to be the second part of the list of the first round of trade wars.

The U.S. trade representative's office on Tuesday released a list of Chinese products worth about $16 billion and said it would impose additional tariffs of 25 percent on those products from August 23, CNN reported. The list contains 279 of the original 284 tariff lines in the proposed list published on 15 June.

The White House statement said the move was part of the us response to unfair Chinese trade practices, such as forcing the us to transfer technology and intellectual property.

The trump administration's first round of "trade wars" against China was previously reported to have involved a 25 percent tariff on $50 billion of goods. The first part of the list, which includes $34 billion in goods, was published on June 16th, and the tax takes effect on July 6th. The second part of the list, released today, is $16 billion in goods, effective August 23.

Really don't want the new tariff affect machine knife business.