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US tariff hikes on $200 billion Chinese goods come into effect

by ChemOrbis Editorial Team -
  • 10/05/2019 (11:38)
As of May 10, the US increased tariffs on billions of Chinese goods as negotiations to work towards a trade agreement failed to culminate.

On May 5, President Trump voiced his plans to increase the tariffs on $200 billion worth of Chinese of goods from 10% to 25%, and implement a fresh 25% tariff on an additional $325 billion of goods.

A formal notice was given on the proposed tariffs on May 8 and the Chinese Ministry of Commerce responded that it would take countermeasures in due course.

The tariffs came as high-level officials from both sides resumed trade talks to salvage an agreement in Washington, the US. Both countries have been engaged in talks to try to end trade war since the start of the year.
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