China hits back at US with 25 per cent tariff hike on American products

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Beijing: In a retaliatory measure, China on Wednesday decided to impose new tariffs of 25 per cent worth USD 50 billion on 106 American products, including aircraft and cars, as the world’s two largest economies edged closer towards an all-out trade war.
The move comes after the Trump administration Tuesday published a list of about 1,300 Chinese exports that could be targeted for tariffs.
The Chinese Customs Tariff Commission of the State Council, in a retaliatory measure, decided to impose additional tariff of 25 per cent on 106 items of products under 14 categories worth USD 50 billion, the Ministry of Finance said in a statement.
The date of implementation will depend on when the US government imposes the tariffs on Chinese products, it said.