Econ - International iA .docx - Personal code hdg023 International economics Internal Assessment Word count 706 Candidate number 002582-0008 Personal

Econ - International iA .docx - Personal code hdg023...

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Personal code: hdg023International economics Internal AssessmentWord count: 706Candidate number: 002582-0008Personal code :hdg023Article Source :-billion-worth-of-us-goods-including.html.Article Date8thAugust2018Date Written: 4thNovember 20181
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Personal code: hdg023China slaps 25% tariffs on $16 billion worth of US goodsPUBLISHED WED, AUG 8 2018 • 8:26 AM EDT | UPDATED WED, AUG 8 2018 • 1:46 PM EDTFred Imbert@FOIMBERTKEY POINTS°The Chinese Ministry of Commerce announces a 25 percent charge on $16 billion worth of U.S. goods, including vehicles such as large passenger cars and motorcycles.°China’s announcement comes after the U.S. Trade Representative’s office released a finalized list of $16 billion worth in Chinese goods that will be hit with tariffs.China said Wednesday it will retaliate against the latest round of U.S. tariffs on Chinese imports.The Chinese Ministry of Commerce announced a 25 percent charge on $16 billion worth of U.S. goods. The 333 goods being targeted by China include vehicles such as large passenger cars and motorcycles. Various fuels are on the list, as well as fiber optical cables.China is also going after coal, grease, Vaseline, asphalt and plastic products, and recyclables.China’s announcement comes after the U.S. Trade Representative’s office released a finalized list of $16 billion worth in Chinese goods that will be hit with tariffs. The U.S. charges will take effect on Aug. 23. Thelatest U.S. list brings the total worth of Chinese goods facing a 25 percent tariff to $50 billion.o“This is tit-for-tat exactly,” said Art Hogan, chief market strategist at B. Riley FBR. “Our $16 billion comes at a scheduled time, which comes up on the 23rd. China said we see your $16 billion and we’ll match your $16 billion.”“They’ll pretty much match what we do until they have no more levers to pull. The bad news is the trade war fears in China are escalating. The major concern right now in trade is China,” Hogan said.
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