China to Raise Tariffs on $60 Billion of US Goods
- 5 years ago
China to Raise Tariffs
on $60 Billion of US Goods Tariffs on more than 5,000 products
will be raised in retaliation for the
U.S. hike on Chinese goods. The tariff hike, which is high as
25% on some products, will
go into effect on June 1. A 20% hike in duties heavily
targets farmers who raise poultry,
peanuts, wheat and sugar. Recently, U.S. President Donald Trump
raised tariffs on Chinese products from 10% to 25%. Following the announcement
from Beijing, stocks indexes
plunged more than 700 points. Recent trade talks between the
U.S. and China ended without a deal. Treasury Secretary Steve Mnuchin
says negotiations between the
two countries are ongoing.
on $60 Billion of US Goods Tariffs on more than 5,000 products
will be raised in retaliation for the
U.S. hike on Chinese goods. The tariff hike, which is high as
25% on some products, will
go into effect on June 1. A 20% hike in duties heavily
targets farmers who raise poultry,
peanuts, wheat and sugar. Recently, U.S. President Donald Trump
raised tariffs on Chinese products from 10% to 25%. Following the announcement
from Beijing, stocks indexes
plunged more than 700 points. Recent trade talks between the
U.S. and China ended without a deal. Treasury Secretary Steve Mnuchin
says negotiations between the
two countries are ongoing.