The Asian economic powerhouse will add the tariffs on U.S. imports to measure the same tax placed on their exports, CNBC said.
The U.S. announced its additional tariffs Tuesday. The $16 billion taxed in the latest round brings the total amount of Chinese goods taxed up to $50 billion.
Both sets of tariffs will go into effect at midnight Aug. 23.
….Tariffs will make our country much richer than it is today. Only fools would disagree. We are using them to negotiate fair trade deals and, if countries are still unwilling to negotiate, they will pay us vast sums of money in the form of Tariffs. We win either way……— Donald J. Trump (@realDonaldTrump) August 4, 2018
….China, which is for the first time doing poorly against us, is spending a fortune on ads and P.R. trying to convince and scare our politicians to fight me on Tariffs- because they are really hurting their economy. Likewise other countries. We are Winning, but must be strong!— Donald J. Trump (@realDonaldTrump) August 4, 2018
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