US President Donald Trump revealed on Friday that hefty tariffs will be imposed on $ 50 billion worth of Chinese imports.
The smoldering trade war between the world’s two largest economies showed signs of igniting as Beijing immediately vowed to respond in kind, Reuters reported.
A 25 percent tariff will be imposed on a list of 800 strategic Chinese goods starting on July 6, including cars, industrial and aviation products, and robots.
“These tariffs are essential to preventing further unfair transfers of American technology and intellectual property to China, which will protect American jobs,” Trump was quoted as saying.
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