US to hit China with new wave of 15 per cent tariffs as trade war escalates
The US is set to impose new tariffs on a range of Chinese goods on Sunday as the trade war escalates further.
The US is expected to hit billions of dollars worth of Chinese imports to the country with a 15 per cent tariff.
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It is five per cent more than the initially planned 10 per cent and was announced last week after trade tensions increased.
It is the first of two rounds of new tariffs, but China has said it has “ample” means to retaliate.
The Trump administration aims to have implemented tariffs on all China’s products coming into the US by the end of the year.
The US has already imposed tariffs on around $250bn worth of Chinese goods, and Beijing in turn has done the same on $110bn of US products.
While both sides have called for a resolution to be found, so far neither has been willing to compromise on their demands.
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Products to be hit on 1 September include things like agricultural goods after Trump accused China of not delivering on its promise to buy more from the US.
A second round of tariffs due for 15 December will hit clothes and footwear. It was delayed to allow US shoppers to complete their Christmas shopping.