Washington moved ahead Sunday with new tariffs on Chinese imports as it stepped up a high-pressure campaign aimed at coercing Beijing to sign a new trade deal even amid fears of a further slowing of US and world growth.
The additional 15 percent tariffs, affecting a portion of the $300 billion in goods from the Asian giant that so far has been spared, took effect at 04H01 GMT, according to the US Trade Representative’s office.
President Donald Trump on Friday ruled out any further postponement, reports AFP.
The new tariffs will target a range of products, from foodstuffs (ketchup, butchered meat, pork sausage, fruits, vegetables, milk, cheese) to sports equipment (golf clubs, surf boards, bicycles), to musical instruments, sportswear and furniture, according to an official list.
Economists at the Washington-based Peterson Institute for International Economics estimate $112 billion in goods will be affected.
The trade war touched off by Trump more than a year ago received its latest jolt last week with the US announcement that all Chinese goods would be subjected to tariffs by the end of this year.More than $250 billion worth of China’s $540 billion in exports to the US (2018 figure) are already subject to tariffs.