Home Business News China to slap additional tariffs on $50bn of US goods

China to slap additional tariffs on $50bn of US goods

4th Apr 18 10:47 am

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China is set to impose additional tariffs of 25 per cent on 106 US goods including soybeans, autos, chemicals, some types of aircraft and corn products, among other agricultural goods, the finance ministry announced today.

The retaliatory action comes after the US published a list of about 1,300 Chinese products it plans to hit with a 25 per cent tariff.

The products targeted by the tariffs were worth $50bn in 2017, according to a separate statement from the commerce ministry.

Extra tariffs will also be slapped on products such as whisky, cigars and tobacco, some types of beef, lubricants, and propane and other plastic products.

US orange juice, certain sorghum products, cotton, some types of wheat, as well as trucks, some SUVs, certain electric vehicles, will also be subject to the new duties, the finance ministry said.

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