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Trump to slam China with third tranche of tariffs on $ 200 billion worth of goods

The Trade War between the United States of America and China appears to intensify with US President Donald Trump imposing another round of tariffs worth $ 200 billion on Chinese-origin goods. The Office of the U.S. Trade Representative (USTR) has announced that the tariffs will start next Monday 24 September 2018.

The latest tariffs, along with previous rounds on $50 billion of Chinese goods and metal imports, will mean over half of all Chinese goods coming into the US are subject to the duties.

"It will be a lot of money coming into the coffers of the United States of America," Trump said.

American Apparel and Footwear Association call the action “cruel to U.S. interests.”

China lost no time in retaliating with tariffs on $ 60 billion worth of US goods resulting in about 85% and 95% of American imports into China will be subject to tariffs.

The President also threatened to slap tariffs on another $267 billion worth of Chinese goods, which would mean all imports from China would be subject to duties.

The Trade War ultimately affects only the consumers of both the countries since they have to pay more for the same products, leaving aside the affordability. And economists and analysts warn that the trade war will harm the global economy, putting hurdles in its growth.

 

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