Caixin
Jun 15, 2018 10:31 PM
ECONOMY

Trade War Back on Stage With New U.S. Tariffs

Cargo is loaded and unloaded at Yangshan Deep-Water Port in Shanghai on April 9. Photo: VCG
Cargo is loaded and unloaded at Yangshan Deep-Water Port in Shanghai on April 9. Photo: VCG

A trade war flared up again between the world’s two largest economies as China and the U.S. imposed tit-for-tat new tariffs on each other.

China will levy an additional 25% tariff on about $50 billion of U.S. imports, according to a statement published on the website of the Ministry of Commerce. The move came hours after the U.S. announced a plan to slap an additional 25% duty on about $50 billion of Chinese imports that contain “industrially significant technologies” as early as July 6.

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