China Will Retaliate with Tariffs on $75 Billion Worth of US Goods and Resume Auto Duties
China said Friday it will impose new tariffs on $75 billion worth of U.S. goods and resume duties on American autos.
The Chinese State Council said it decided to slap tariffs ranging from 5% to 10% on $75 billion U.S. goods in two batches effective on Sep. 1 and Dec. 15.
It also said a 25% tariff will be imposed on U.S. cars and a 5% on auto parts and components, which will go into effect on Dec.15. China had paused these tariffs in April.