New US tariffs on Chinese goods to take effect

New US tariffs on Chinese goods to take effect

The Chinese authorities refused to conduct new trade consultations with the USA after Washington announced additional fees, reports The Wall Street Journal.

Even before Trump's election, the United States has complained vigorously that China has been unfair to U.S. businesses and has stolen technology by forcing firms to reveal secrets as a condition to operate in the fast-growing Asian economy. Earlier than that it was deliberate to ship to the US delegation to organize the go to of a senior official.

Last week, China added $60 billion of US products to its import tariff list as it hit back at USA duties on $200 billion of Chinese goods that go into effect from Monday. They may come into pressure on 24 September.

Image Signs featuring U.S. and Chinese flags are seen outside a store selling foreign goods in Qingdao China
Signs featuring U.S. and Chinese flags are seen outside a store selling foreign goods in Qingdao

In reprisal to the tariff hike, China also announced new taxes between five and 10 percent higher from today to US exports for 60 billion dollars. President of the United States Donald Trump accused the PRC of stealing intellectual property and repeatedly stressed that he does not like the deficit in trade with Beijing.

One week ago, Trump ordered once more the imposition of tariffs 10 percent higher, for a value of 200 billion dollars, on imported Chinese products.

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