China is slapping additional import tariffs of 25 percent on $16 billion worth of US goods as the trade war between the two global superpowers continues to escalate.  The commerce ministry said the goods will range from oil and steel products to autos and medical equipment. A spokesperson said on its website:

“The US decided to impose a 25 percent tariff on the $16 billion Chinese exports to the United States from August 23, and once again overriding domestic law over international law is a very unreasonable practice. “In order to safeguard its legitimate rights and interests and the multilateral trading system, the Chinese side had to make the necessary counter-measures and decided to impose a 25 percent tariff on $16 billion from US imports and implement it in parallel with the US.” READ MORE