August 9,2018-
The Trump administration announced this week it would impose tariffs on an additional $16 billion in Chinese goods as of Aug. 23 and now China’s Ministry of Commerce has not waited long to respond in kind.
“In order to safeguard its legitimate rights and interests and the multilateral trading system, the Chinese side had to make the necessary counter-measures and decided to impose a 25 percent tariff on $16 billion from U.S. imports and implement it in parallel with the U.S.,” the ministry said, according to a translation.
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The additional tariffs will mean Chinese consumers will be forced to pay even more for many US farm goods as of August 23 ,even more than were imposed in July. Additional tariffs will go into effect for frozen strawberries, milk baby formula and wine, all huge California ag products.
Here are some examples:
-combined tariff on U.S. frozen strawberries will be 65 percent
-some wines now will total 60% tariff
-tomato sauces will now 25%
– baby formula now will jump 25% to 35% total tariff
Here is a list of of the tariff rounds by date and the amounts including the latest.