TOKYO --The tariffs that the U.S. and China are threatening each other with would exact significant pain on the American auto and agriculture industries as well as other vulnerable goods.
The U.S. late last week said it will start imposing 25% duties on $34 billion worth of Chinese products on July 6. Another $16 billion in tariffs would come at a future date. Beijing responded almost immediately with its own list of tariffs on $50 billion worth of imports from the U.S. The first $34 billion worth would also take effect on July 6, with the rest kept in reserve in case Washington further escalates matters.