TRADE WAR

Trump Unveils New List of Chinese Tariffs Worth $200 Billion

The president wants to escalate the trade war after China retaliated against U.S. tariffs.

The Trump administration unveiled a list of tariffs on Tuesday worth up to $200 billion in Chinese imports designed to “cause disruptions to China’s economy,” CNBC reports. In a statement, U.S. Trade Representative Robert Lighthizer said the 10 percent tariffs were an “appropriate response… to obtain the elimination of China’s harmful industrial policies.” Some of the products targeted are reportedly part of China’s “Made in China 2025” initiative, aiming to make the country a global leader in specific industries. The list of goods will go also through a two-month “review process” and two hearings. This comes after President Trump warned that he may place up to $500 billion in tariffs if China retaliated against U.S. tariffs that came into effect on Friday. China ended up putting tariffs on $34 billion in U.S. exports after last week’s tariffs.