US – China Tariff war is on

US President Donald Trump is to impose 25% tariffs on $50bn worth of Chinese goods, accusing Beijing of intellectual copyright theft. Tariffs that affect more than 800 products worth $34bn in annual trade are due to come into effect on 6 July.

The White House said it would consult on tariffs on the other $16bn of products, and would apply these later.

In a quick response to U.S. tariffs, Beijing announced on Friday its own duties on American products, including the politically sensitive areas of agriculture products and automobiles.

The Chinese State Council’s commission on tariffs and customs said in an online statement that a 25 percent tariff will take effect July 6 on agriculture products, automobiles and “aquatic products.”