China announced additional tariffs on 106 U.S. products on Wednesday, in a move likely to heighten global concerns of a tit-for-tat trade war between the world’s biggest economies. The effective start date for the new charges was not announced, though China’s Ministry of Commerce said the tariffs are designed to target up to $50 billion of U.S. products annually. The 25 percent levy on U.S. imports
includes products such as soybeans, cars and whiskey, Beijing said. The move comes less than 24 hours after President Donald Trump unveiled a list of Chinese imports that he aims to target as part of a crackdown on what he deems as unfair trade practices. Sectors covered by Trump’s proposed tariffs include products used for robotics, information technology, communication technology and aerospace. READ MORE
China strikes hard: Tariffs On 106 US Products… Stocks set to Plunge!!
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