China Announces Tariffs Targeting $75 Billion of U.S. Goods

Chinese officials announced retaliatory tariffs targeting $75 billion worth of American goods Friday as the trade war between the U.S. and China continues.

China announces retaliatory tariffs targeting $75 billion worth of American goods as bilateral trade tension between Washington and Beijing continues to mount.

The Chinese State Council made the announcement Friday saying the tariffs will be between 5% and 10% and will take effect in September and December.

China also announced it will impose a 25% tariff on American vehicles and an additional 5% tariff targeting auto parts, although they will not be effective until December 15.

The announcement comes about one week after Chinese officials threatened retaliation over tariffs set to take effect September 1.

At the time, it remained unclear what the retaliation would entail.

President Trump warned Beijing earlier this month the U.S. would enact a 10% tariff on $300 billion worth of Chinese goods by September 1. 

Since that announcement, some tariffs have been removed and others have been delayed. 

Chinese officials slammed the move anyway saying it violated an agreement reached between the countries during the G-20 Summit in Osaka.

The president cited the delay as critical for retailers to get through Christmas without extreme price increases. 

White House trade adviser Peter Navarro weighed in on the talks saying there are structural issues involving technology and currency manipulation which need to be straightened out before a deal can be reached. 

Chinese and American officials are expected to meet to discuss the ongoing trade disputes in Washington next month.

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