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Home Business

US-China trade war hits $100bn in goods

NigerianCanadianNews by NigerianCanadianNews
August 22, 2018
in Business, News
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BEIJING, CHINA - APRIL 12: President of the Federal Republic of Nigeria Muhammadu Buhari (L) and Chinese President, Xi Jinping (R) shake hands during the signing ceremony at Great Hall of the People on April 12, 2016 in Beijing, China. (Photo by /Kyodo News - Pool/Getty Images)

From iconic Harley Davidson motorcycles and American bourbon to machinery and computer processors, the world’s two largest economies have exchanged punitive tariffs that slice through a wide swath of key products.

Starting Thursday at 12:01 am (0401 GMT), the US will charge 25 percent import duties on an additional $16 billion in Chinese products, bringing the total to over 1,000 items valued at about $50 billion in trade a year.

China has responded dollar-for-dollar on hundreds of US goods, putting the total value of affected goods at $100 billion, one-seventh of the total annual US-China trade.
 

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