ECONOMY

China unveils retaliatory tariffs on US goods in deepening trade row

The world’s two largest economies are in the grip of a trade war. (File photo: AP)

China unveiled on Friday retaliatory tariffs against about $75 billion worth of US goods, marking the latest escalation of a protracted trade dispute between the world’s two largest economies.

China’s commerce ministry said in a statement it would impose additional tariffs of 5% or 10% on a total of 5,078 products originating from the United States that include agricultural products, crude oil, small aircraft and cars.

Tariffs on some products would take effect on Sept. 1 and others on Dec. 15.

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Last Update: Friday, 23 August 2019 KSA 15:31 - GMT 12:31
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