Trump announces 25% tariff on Chinese hi-tech imports

© Tanaonte

Threats of Chinese retaliation did nothing to ward off the US government announcing it would levy 25% tariffs of $50bn on Chinese goods. The Guardian reports that escalating trade tensions have already resulted in Beijing threatening retaliation. A White House statement noted the tariffs would be levied on goods containing “industrially significant technologies” and emerging high-technology industries “that will drive future economic growth for China, but hurt economic growth for the United States and many other countries”. Some 1,300 product categories will be targeted – the full list will be published next week. The move comes just days after the US president told Fox News he was “very strongly clamping down on trade” with China.