The ongoing trade war between the United States and China is set to escalate even further after the Trump White House announced yet another round of tariffs on USD200 billion worth of Chinese imported goods.
The list of potentially affected products includes thousands of items ranging from food to minerals and consumer goods, according to a statement first released by a US trade representative over the summer. Over 300 goods have since been removed from that list, including popular electronics such as the iPhone, smart watches and Bluetooth devices, as well as children's items and health & safety products.
The new tariffs will be added to another USD50 billion imposed earlier this year. Those tariffs covered everthing from pork to soybeans. Combined, the tariffs would apply to around half of the goods China imports to the US annually.
China has vowed to retaliate, as it has with previous tariffs. In a statement released today, China's Ministry of Commerce said it would counteract with simultaenous tariffs when the new round goes into effect next week.
The US tariffs will officially be imposed on September 24. The 10 percent tariffs are effective until January 1 of next year, when they are set to rise to a whopping 25 percent.
President Trump has also threatened a third wave of tariffs on an additional USD267 billion worth of goods.
[Top image by That's]