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  • China to penalize 60 billion of US imports in tit-for-tat move

    Published on September 19, 2018

    The trade war of China and the United States intensified yesterday after Beijing

     

    added 60 billion dollars of United States products to its import tariff list in retaliation for President Donald Trump’s planned levies on 200 billion dollars worth of Chinese goods. The tit-for-tat measures are the latest escalation in an increasingly protracted trade dispute between the world’s two largest economies.

    The U.S. administration said it will begin to levy new tariffs of 10 per cent on nearly  200 billion dollars of Chinese products on next Monday with the tariffs to go up to 25 per cent by the end of 2018. Both countries tariffs will come into force next Monday.

    In light of the U.S. action, China is reviewing plans to send a delegation to Washington for new talks, the South China Morning Post reported yesterday, citing a government source in Beijing.

    The European Union trade chief said the tariff issues between the two should be resolved through the World Trade Organization. The EU and the United States have declared a truce in their own trade dispute while they negotiate.

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