China Announces New Tariffs on $75 Billion of United States’ Goods
Today, the Ministry of Finance of China announced new tariffs on $75 billion of United States’ goods. The tariffs will be implemented “on September 1, 2019,” for “10%” on over 1,000 items of US imports, and “on December 15, 2019” an additional 1,000 items of US imports will be hit with a “10%” tariff, totaling “about 75 billion US dollars of goods.” China’s Ministry of Finance says “US measures have led to the continuous escalation of China-US economic and trade frictions,… [and China’s] adoption of tariff-adding measures is a forced move to deal with US unilateralism and trade protectionism.” Continuing, China “reiterated that… cooperation is the only correct choice [to] resolve differences in a mutually acceptable way” and put an end to the trade war. President Trump reacted to the news, calling for “American companies… to immediately start looking for an alternative to China, including bringing…. companies HOME and making [their] products in the USA.” Trump says he “will be responding to China’s Tariffs this afternoon.”
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