China announces tariff hikes on 75 billion dollars of U.S. products in retaliation to President Trump’s increase

China announces tariff hikes on 75 billion dollars of U.S. products in retaliation to President Trump's increase

Kaitlyn Karmout WASHINGTON: China announced new tariff hikes on 75 billion dollars of U.S. products Friday. The move is in retaliation for President Trump’s latest tariff increase. The new tariffs expand a trade conflict that threatens to weaken the world’s economies into a recession. The tariffs of ten and five percent will take effect on two types of goods on September first and December 15th. China’s statement said over 5,000 U.S. products will be affected, but didn’t specify what goods. In the past China’s tariffs have responded in kind to President Trump’s tariffs. China said it was "forced" to impose the tariffs by the earlier U.S. tariffs. The tariffs have affected both U.S and Chinese businesses and economists said the tariffs have cost the American consumer to pay anywhere from 600 to a thousand dollars more for products. President Trump’s advisor on trade said the new tariffs were "well anticipated." U.S. china trade talks have been deadlocked, but negotiators are scheduled to resume meeting soon. The trump administration announced tariffs on 300 billion dollars of Chinese products in may after talks broke down. President Trump announced delays on some tariffs to December 15th to help holidays purchases by U.S consumers.

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