China's Retaliatory Tariffs on US Goods Worth USD16 Bln Take Effect
CGTN
/SOURCE : CGTN
China's Retaliatory Tariffs on US Goods Worth USD16 Bln Take Effect

(Yicai Global) Aug. 23 -- China' s tariffs on 16 billion US dollars' worth of US goods took effect at 12:01 pm BJT simultaneously with the US initiating additional 25 percent tariffs on a similar amount of Chinese goods at 12:01 am EDT (0401 GMT) on Thursday, according to Customs Tariff Commission of the State Council.

The US tariff list includes commodities such as semiconductors, electronics, plastics, chemicals and railway equipment, while China's tariff list covers automobiles, energy, and chemical raw materials.

China strongly opposes the US move of imposing additional tariffs on Chinese goods and is forced to fight back, according to a statement by China's Ministry of Commerce on Thursday.

Trade talks between China and the US are currently underway in Washington, with delegations led by China's Vice Minister of Commerce Wang Shouwen and senior US Treasury official David Malpass, respectively.

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Keywords: US , Trade Tariffs