China warns us on new tarrif
You're referring to the recent trade tensions between the United States and China!
Yes, on May 13, 2019, China's Ministry of Commerce announced that it would impose tariffs on $60 billion worth of US goods, effective June 1, 2019. This move was in response to the Trump administration's decision to increase tariffs on $200 billion worth of Chinese goods from 10% to 25%.
The new tariffs imposed by China will target a range of US products, including:
- Agricultural products: soybeans, corn, wheat, and cotton
- Energy products: liquefied natural gas (LNG), crude oil, and refined petroleum products
- Industrial goods: steel, aluminum, copper, and other metals
- Consumer goods: clothing, textiles, and electronics
The tariffs are expected to range from 5% to 25%, depending on the product. This move is likely to increase costs for US companies and consumers, and could lead to higher prices for goods imported from China.
The trade tensions between the US and China have been escalating over the past year, with both sides imposing tariffs on each other's goods. The US has accused China of unfair trade practices, such as intellectual property theft and forced technology transfer, while China has argued that the US is trying to restrict its economic growth and development.
The impact of these tariffs is still being felt, and it's unclear when or if the trade tensions will be resolved.