China To Impose New Tariffs On $75B U.S. Goods

China said Friday that it will impose new tariffs on some $75 billion in goods imported from the U.S., the latest in a series of retaliatory responses in the ongoing trade wars between the two nations.  China’s Customs Tariff Commission said it is imposing the tariffs in response to the U.S. government’s additional 10 percent tariffs on approximately $300 billion in goods imported from China. The U.S. government’s tariffs, which will impact footwear and apparel, are set to be implemented in September and in December. “The U.S. measures have led to the continuous escalation of Sino-US economic and trade frictions, which have greatly harmed the interests of China, the United States and other countries, and have also seriously threatened the multilateral trading system and the principle of free trade,” according to a translation of China’s statement Friday.  China said it will be imposing tariffs of 10 percent and 5 percent on a number of items from the U.S., set to go into effect on Sept. 1 and Dec. 15, corresponding with the dates of the U.S. tariffs.  ( function() { var func = function() { var iframe_form = document.getElementById('wpcom-iframe-form-f0a861ba6bc48bd8f1204cbd573e62d3-5d5ffaa6cd8ad'); var iframe = document.getElementById('wpcom-iframe-f0a861ba6bc48bd8f1204cbd573e62d3-5d5ffaa6cd8ad'); if ( iframe_form && iframe ) { iframe_form.submit(); iframe.onload = function() { iframe.contentWindow.postMessage( { 'msg_type': 'poll_size', 'frame_id': 'wpcom-iframe-f0a861ba6bc48bd8f1204cbd573e62d3-5d5ffaa6cd8ad' }, window.location.protocol +

Follow WWD on Twitter or become a fan on Facebook.

Read More...

from WWDWWD https://ift.tt/2NriEB7