US Fresh 25% tariff on 200$ bn Chinese Goods

US Trade Representative has issued a notice about Washington’s decision to hike tariffs on 200 billion dollars’ worth of Chinese goods.

The USTR says in the notice published in the Federal Register that the tariffs will be raised from 10 percent to 25 percent on Friday.

After a bilateral summit last December, Washington temporarily shelved the tariff hike, and US and Chinese officials have been in talks to try to end the trade war.

The announcement comes as the two sides are set to sit down for another round of negotiations from Thursday in Washington.

Trade Representative Robert Lighthizer is accusing China of reneging on prior commitments.

The Chinese Commerce Ministry reacted sharply to the announcement of the tariff hike. It said escalating the trade friction will not be beneficial to people in either country, nor those in the rest of the world. The ministry is threatening to take what it calls necessary countermeasures if the US actually raises the tariffs.

The hike will come into effect on May 10, with US trade representatives expected to establish a process for individuals seeking exclusions from additional tariffs for certain products.

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