China places tariffs on another $16B worth of US goods

The trade war between the U.S. and China continues to escalate, with China slapping a 25% tariff on another $16 billion worth of U.S. goods.

The latest charge comes after the U.S. said it would implement another round of tariffs on $16 billion worth of Chinese goods. China’s latest tariffs will be implemented on Aug. 23, in tandem with the U.S.

China’s Commerce Ministry called the U.S. decision to place the latest round of tariffs on Chinese goods “unreasonable,” and said it decided to take counter measures, matching the tariffs in percentage and value.

China said it is targeting 333 products, including crude oil, coal, diesel, cars, bicycles, medical equipment, steel products, scrap metals and waste paper, as well as fish meal.

In July, the U.S. and China exchanged tariffs on $34 billion worth of goods. Washington applied a 25% tariff on Chinese imports including airplane tires and various industrial parts. China placed tariffs on U.S. imports including pork and soybeans.