China on Saturday increased tariffs on billions of dollars’ worth of U.S. goods as it prepares to unveil a blacklist of “unreliable” foreign companies that analysts say aims to punish U.S. and foreign firms cutting off supplies to telecoms giant Huawei.
Beijing’s move hits $60 billion worth of U.S. goods with new punitive tariffs ranging from 5% to 25%, and comes in retaliation for Washington raising punitive tariffs on $200 billion in Chinese goods to 25%.
Washington and Beijing resumed their trade battle last month when trade talks in the U.S. ended without a deal, with American negotiators accusing Chinese negotiators of reneging on previous commitments.
The countries have exchanged tariffs on $360 billion in two-way trade so far…….read more
Source: VOA News
