China Issues Another Warning Over Upcoming U.S. Tariffs
The Trump administration is scheduled to impose a 10% tariff on hundreds of billions of dollars of Chinese goods in two parts later this year.
China is warning once again that it will retaliate if the U.S. decides to move forward with new tariffs on Chinese goods.
The Trump administration is scheduled to impose a 10% tariff on hundreds of billions of dollars of Chinese goods in two parts later this year. The tax will first apply to an estimated $112 billion of Chinese imports on Sept. 1. Then on Dec. 15, the tariff will take effect against another $160 billion of items, including cell phones, video game consoles and some toys.
A spokesman for China's Ministry of Commerce told reporters Thursday the tariffs will "lead to an escalation of economic and trade friction."
His comments came a day after the Chinese Foreign Ministry called on the U.S. to meet it "halfway" in their trade negotiations.
The last round of trade talks between the two countries ended abruptly without a deal back in July.
U.S. and Chinese officials are expected to resume negotiations in September. Though it's unclear if they'll come to an agreement.
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