US, China set to impose more tit-for-tat tariffs
Trade tensions escalate despite mid-level talks in Washington
The United States and China were poised to escalate their trade war on Thursday, with both sides set to implement punitive 25 per cent tariffs on $16 billion worth of the other’s goods.
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The latest round brings to $50 billion the value of imports subjected to tariffs on either side since early July, and more are in the pipeline, adding to risks for global economic growth.
Washington will hold hearings this week on a proposed list of an additional $200 billion worth of Chinese imports to face duties. US Customs and Border Protection confirmed on its website that at 12:01 AM EDT (0401 GMT) on Thursday, which is just past noon in Beijing, it would begin collecting extra 25 per cent duties on 279 Chinese import product categories valued at $16 billion.
China has said its own tariffs on a list of $16 billion worth of imports from the United States would be effective at 12:01 PM local time.
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