- The Washington Times
Wednesday, August 8, 2018

The U.S.-China trade war continued to escalate Wednesday, when the Chinese government announced it will slap a 25 percent retaliatory tariff on $16 billion worth of U.S. imports, CNBC reported.

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.

On Aug 4, President Trump touted his hard-line tariff war with China. He defended his tariff strategy as a key tool to negotiate fair trade relationships with other countries.

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