The Latest: China strikes back, $75B in tariffs on US goods
WASHINGTON (AP) — The Latest on the escalating trade war between the U.S. and China, the world’s two largest economies (all times local):
China is putting into place tariffs on $75 billion in U.S. products in retaliation for the Trump administration’s latest planned tariff hikes.
China said Friday that it will also increase import duties on U.S.-made autos and auto parts. The retaliation pulled global markets into negative territory
Tariffs of 10% and 5% will take effect on two batches of goods on Sept. 1 and Dec. 15. Beijing gave no details of what goods would be affected but the timing matches Trump’s planned hikes.