Caixin
Mar 23, 2018 05:55 PM
ECONOMY

U.S. Slaps Sweeping New Tariffs on China Imports

U.S. President Donald Trump speaks in the White House on Thursday before signing a presidential memorandum imposing tariffs and investment restrictions on China. Photo: VCG
U.S. President Donald Trump speaks in the White House on Thursday before signing a presidential memorandum imposing tariffs and investment restrictions on China. Photo: VCG

U.S. President Donald Trump on Thursday announced a plan to slap new annual tariffs on about $60 billion of Chinese imports, further escalating trade tensions between the world’s two largest economies.

The amount represents more than 10% of all Chinese goods sent to the U.S. last year. China’s exports to the U.S. totaled $505.6 billion in 2017, according to the U.S. Department of Commerce.

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