Economics
China Announces Date to Match $16 Billion U.S. Tariffs
- Beijing to impose 25% additional tariffs on $16b U.S. imports
- China to raise tariffs on coal, medical instruments, cars
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China confirmed that it will impose 25 percent tariffs on an additional $16 billion worth of imports from the U.S. from Aug. 23, matching an earlier move from Washington in another ratchet higher for the trade war between the two nations.
The U.S. decision to levy 25 percent tariffs on the same value of Chinese goods is "very unreasonable," and China will have to retaliate to protect its rightful interests and the multilateral trading system, China’s Ministry of Commerce said in a statement.