China To Put 25% Tariffs On $16 Billion Worth Of US Products.

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China has announced plans to put tariffs of 25% on US products worth $16 billion, the latest move in an escalating trade war.
The Chinese government said in a statement Wednesday that the taxes would be imposed on August 23.
The US products in line for tariffs include chemical items and diesel fuel.
The world's top two economies have repeatedly sparred over trade in recent months, in what experts warn may become a devastating cycle of retaliation.
Related: The US-China trade war is about to get real
On Tuesday, the Trump administration unveiled its own list of roughly $16 billion worth of imports from China that will be hit with 25% tariffs.
The latest US tariffs on 279 products, including motorcycles, speedometers and antennas, will also take effect August 23.
Full Story: https://money.cnn.com/2018/08/08/news/economy/china-tariffs-us-trade/index.html

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