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China announces 25% tariffs on $16 billion worth of US goods, including crude oil and cars
China said Wednesday it will retaliate against the latest round of U.S. tariffs on Chinese imports. The Chinese Ministry of Commerce announced a 25 percent charge on $16 billion worth of U.S. goods. The goods being targeted by China include crude oil and cars. China's announcement comes after the U.S. Trade Representative's office released a finalized list of $16 billion worth in Chinese goods that will be hit with tariffs. The U.S. charges will take effect on Aug. 23. The latest U.S. list brings the total worth of Chinese goods facing a 25 percent tariff to $50 billion. "This is tit-for-tat exactly," said Art Hogan, ... (full story)
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