The China-US trade war has warmed up. The two countries began to levy a new round of tariffs on some imported goods at the same time at 12 noon on September 1, Hong Kong time.
The Trump administration announced on August 15 that it would impose tariffs on goods of about US$300 billion imported from China to take counter-measures against China. From September 1st, Washington will impose a 15% tariff on goods worth $125 billion, including Bluetooth headsets and a variety of sports shoes. The rest, including mobile phones, notebook computers and toys, will be subject to a 15% tariff on December 15.
China announced on the 23rd that it will impose a tariff of 10% and 5% on 5078 tax items originating from the United States and about 75 billion US dollars. It will be implemented in two batches from September 1 and December 15. On September 1st, for the first time, a 5% tariff will be imposed on US crude oil products.
China-US trade negotiators are expected to conduct a new round of negotiations in September.