OUR NEWS

US sets date for additional China tariffs

August 8, 2018

 

The US has said it will impose further tariffs on Chinese goods starting 23 August, in an escalation of trade war between the world's two biggest economies.

 

its top trade negotiator has said

The 25% import taxes will apply to about $16bn (£12b.3bn) worth in annual imports, covering 279 product lines, including semiconductors and machinery.

 

The duties are part of a broader round of tariffs on $50bn worth of goods the US announced in March.

 

A first tranche, on $34bn worth of goods, went into effect in July.

 

The US has said the tariffs are intended to penalise China for "unfair" trade practices, such as rules that compel companies in certain sectors to take on local partners if they want to do business in the country.

 

Talks between the two countries on the issues have failed to produce an agreement, prompting China to retaliate with tariffs of its own and US President Donald Trump to escalate his threats.

 

The US is now considering tariffs on another $200bn in goods, including consumer products that were spared duties in the initial $50bn round. Mr Trump has said he would be willing to hit all of China's imports with duties.

Please reload

Recent Posts

Please reload

SUBSCRIBE TO OUR NEWSLETTER

Keep up to date with the latest news and services from Oakmark Global Vision

WEST AFRICA'S NO.1 ECONOMIC AGENTS

REGIONAL OFFICE

INTERNATIONAL OFFICE

CONNECT WITH US

SITE MENU

1 Kandi Close, Off Aminu Kano

Crescent, Wuse 2, Abuja F.C.T

Nigeria 

King Court, 17 School Road
Hall Green Birmingham
United Kingdom  B28, 8JG

+234 -(0)- 929 207 02
+234 (0) 808 643 0422

+44 (0) 121 244 1814
+44 (0) 746 625 2505

© 2019 Oakmark Global Vision Ltd - All Rights Reserved.

UK Company No. 07634879 / Nigeria Company No. RC 1288232

WEST AFRICA'S NO.1 ECONOMIC AGENTS
  • Grey Facebook Icon
  • Grey Twitter Icon
  • Grey Instagram Icon
  • Grey LinkedIn Icon