Search ForexCrunch

As reported by Reuters, US Trade Representative Robert Lighthizer formally announced that the US will be seeking further tariffs on $200 billion USD of Chinese imported goods after both countries enacted round-turn tariffs on each other Friday.

Key quotes

“U.S. Trade Representative Robert Lighthizer said the United States would impose tariffs of 10 percent on the additional Chinese imports.

Trump said last week the United States may ultimately impose tariffs on more than $500 billion worth of Chinese goods – roughly the total amount of U.S. imports from China last year.

Administration officials said a two-month process would allow the public to comment on the proposed tariffs before the list is finalized.”