President Donald Trump fired another shot in an ongoing trade war with China on Tuesday, as his administration released a list of $200 billion in Chinese goods subject to 10% tariffs.
“This is an appropriate response under the authority of Section 301 to obtain the elimination of China’s harmful industrial policies,” says U.S. Trade Representative Robert Lighthizer, claiming that Chinese trade policies represent a national security threat to the United States.
As USA Today reports, China has denied U.S. accusations of unfair trade policies, retaliated against previous tariffs with levies on U.S. goods—and can be expected to do so again.
The proposed tariff list that President Trump ordered last month ranges from Chinese air conditioners to leather goods.
The proposed tariffs do not go into effect immediately but will undergo a two-month review process as officials from both countries negotiate settlements to their trade.
This morning, The New York Times released a graphic timeline that follows the start of the trade war to today, showing how it has grown while keeping track of the number of products that are traded in and out the U.S.
The dispute started in January with tariffs on washing machines and solar panels and now includes about 10,000 products traded around the world, and could have a lasting impact on the global economy.
Markets have been rattled, forcing companies to reshape their operations and raising the possibility of higher prices for businesses and consumers.
For now, neither the United States nor China has shown signs of backing down.
Read the full USA Today story and see the graphic timeline.
