China on may 13 announced it would increase tariffs

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products. China, on May 13, announced it would increase tariffs on a revised list of 5,140 US products, worth about $60 billion, after Trump's move. The additional tariff of 25 per cent will be levied on 2,493 products, including liquefied natural gas, soy oil, peanut oil, petrochemicals, frozen minerals and cosmetics. Other products will see tariffs of 5 per cent-20 per cent. The Asian nation has also imposed 25 per cent tariffs on $50 billion worth of US goods including soy beans, beef, pork, seafood, vegetables, whiskey, ethanol, imposed on July 6 and August 23, in retaliation for initial rounds of US tariffs. China had suspended a 25 per cent duty on US auto imports during their trade negotiations. Beijing has resumed some purchases of US soy beans but has not formally suspended those tariffs. Based on 2018 US Census Bureau trade data, China would only have about $10 billion in US imports left to levy in retaliation for any future US tariffs. Retaliation could come in other forms, such as increased regulatory hurdles for US companies doing business in China. China Filed a complaint to World Trade Organisation (WTO) the day after US imposes 15%
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