Trade war: US hits China – 2 Sept 2019

Trade war: US hits China – 2 Sept 2019

Oct 15,2019

The US has imposed fresh tariffs on $112bn (£92bn) of Chinese imports such as shoes, nappies and food.

The new tariffs are a sharp escalation in the bruising trade war, and could cost households $800 a year.

The move is the first phase of US President Donald Trump’s latest plan to place 15% duties on $300bn of Chinese imports by the end of the year.

In response, Beijing began to introduce measures targeting $75bn worth of US goods.

The measures included a 5% tariff on US crude oil, the first time fuel has been hit in the trade battle between the world’s two largest economies.

What was initially a dispute over China’s allegedly unfair trade practices is increasingly seen as a geopolitical power struggle.

Credit: BBC News

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