China slaps 25% tariffs on $16 billion worth of US goods
#TIA – Who’s coming out ahead in the bidding war on tariffs? We have a sneaky feeling it’s everyone else but us.
“China said Wednesday it will retaliate against the latest round of U.S. tariffs on Chinese imports.
The Chinese Ministry of Commerce announced a 25 percent charge on $16 billion worth of U.S. goods. The 333 goods being targeted by China include vehicles such as large passenger cars and motorcycles. Various fuels are on the list, as well as fiber optical cables.
China’s announcement comes after the U.S. Trade Representative’s office released a finalized list of $16 billion worth in Chinese goods that will be hit with tariffs. The U.S. charges will take effect on Aug. 23. The latest U.S. list brings the total worth of Chinese goods facing a 25 percent tariff to $50 billion.”
Read more at CNBC