U.S. And China Impose Fresh Tariffs As Trade War Escalates
The U.S. imposed 25 percent tariffs on $16 billion of Chinese goods overnight, and China matched them. The two have slapped tariffs on a total of $100 billion of each other's goods in two months.
Last month, after the U.S. leveled tariffs on $34 billion of Chinese imports and after China retaliated in kind, Beijing described the escalating trans-Pacific antagonism as "the largest trade war in economic history."
Now, both nations have upped the ante once again.
In the early morning hours Thursday, the U.S. slapped long-promised tariffs of 25 percent on an additional 279 Chinese products, amounting to calls "China's unfair trade practices related to the forced transfer of American technology and intellectual property."
