China is slapping additional import tariffs of 25 percent on $16 billion worth of U.S. goods ranging from oil and steel products to autos and medical equipment.
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| Chinese and U.S. flags are set up for a meeting during a visit by U.S. Secretary of Transportation Elaine Chao at China's Ministry of Transport in Beijing, China. Photo: REUTERS/Jason Lee |
By Lee Chyen Ye, International Business Times
HONG KONG -
China is slapping additional import tariffs of 25 percent on $16 billion worth of U.S. goods ranging from oil and steel products to autos and medical equipment, the commerce ministry said, as the world’s two largest economies escalate their trade dispute.
“This is a very unreasonable practice,” the commerce ministry said on its website www.mofcom.gov.cn, responding to the United States’ decision to slap 25 percent tariffs on another $16 billion of Chinese goods on Aug 23.
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