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US - China battle of tariffs going on

US - China battle of tariffs going on

The trade conflict between the US and China sharply escalated on September 1. Washington imposed 15% tariffs on popular imports from China such as clothes, footwear, and gadgets, including speakers, smart watches, and Bluetooth headphones. The new tariffs target China’s goods worth $125 billion. With the latest move, now the US collects duties on all imports from China. In response, Beijing slapped a 5% tariff on US crude oil for the first time since the trade war broke out. China’s authorities compiled the list of 1,717 items originating from the US which would be subject to levies until December 15, 2019. Beijing has already begun to collect tariffs on the US imports worth $75 billion. Additional tariffs on the rest of the items will come into force on December 15. Nevertheless, mutual restrictions did not cancel a new round of the high-level trade talks. Donald Trump confirmed that the trade talks would restart in October. The President aims to ease US dependence on China. So, he called on American companies to seek alternative suppliers outside China. "China has been ripping this country off for 25 years,» the US leader made strongly-worded comments on a variety of tariffs on China’s imports.

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