Trade conflict between US and China escalates
- China is slipping back into the escalating trade dispute with the United States now that the American government has come up with more import duties on Chinese products. China announced to introduce 25 percent rates for 106 US products including soybeans, airplanes, automobiles, and chemicals.
The exact starting date of the import duties will be announced later. The value of the imported goods amounted to 50 billion dollars last year. Beijing is responding to the 25 percent levies that the US government will impose on more than 1,300 Chinese products. This mainly concerns high-tech products, including semiconductors, pacemakers and prostheses. There are also raw materials for medicines such as insulin and antidepressants on the list.
China already announced import duties on 128 US import products such as pork and wine in response to the import taxes on steel and aluminum introduced by President Donald Trump.
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