A full-blown trade war between the United States and China is looking more and more
likely as the U.S. gears up to unveil its final list of Chinese goods that will be subject
to increased tariffs.
And Beijing is retaliating by levying tariffs on almost 130 U.S. goods, mostly food imports.
Kim Hyo-sun reports.
The U.S. is set to announce a final list of Chinese goods that will be subject to additional
tariffs by Friday,... a move expected to intensify trade tensions between the world's two economic
superpowers.
This comes as President Trump signed the China tariff proclamation last month,... as part
of punishment against Beijing over its intellectual property rights violations.
The list, covering 60 billion dollars worth of annual imports, is expected to target over
one hundred products, including home appliances.
China, for its part, has threatened to retaliate with its own trade sanctions.
Beijing's finance ministry said in a statement Sunday that it's increasing the tariff rates
on 128 kinds of U.S. products, including pork and fruits,... and the new rates came into
effect on Monday.
It's imposing 25 percent tariffs on eight kinds of U.S. imports including pork,... and
a 15 percent tariff on 120 other goods including fruits.
The tariffs mirror Washington's 25 percent charge on imported steel and 15 percent hike
on aluminum announced in March.
Such tariffs are seen to target America's so-called "farm belt voters" who helped to
elect Trump,... as U.S. farmers who export wine, fruit and pork will be hurt the most
by Beijing's move.
Kim Hyo-sun, Arirang News.
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