US finalizes more China tariffs, due August 23rd - Reuters

Joshua Gibson FXStreet

As reported by Reuters, the US has finalized a new set of tariffs on Chinese goods, targeting $16 billion in imports. China has already vowed to retaliate against the move with their own set of expansions on current tariffs.

Key quotes

"The United States will begin collecting tariffs on another $16 billion in Chinese goods on Aug. 23, the U.S. Trade Representative’s office said on Tuesday as it published a final tariff list targeting 279 import product lines.

USTR said that only five product lines were deleted from a list initially proposed on June 15, but semiconductors, among the largest categories, remained on the list.

The latest list brings to about $50 billion in goods that now face a 25 percent tariff that U.S. President Donald Trump has imposed on Chinese imports in an escalating trade war over China’s intellectual property practices and industrial subsidy policies. China has vowed to match Washington’s tariff moves with duties on an equivalent worth of U.S. products."

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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