US and China escalate trade tension with pledges of tariffs

Beijing vows retaliation after Trump announces levies on $50bn worth of goods

trade tension.jpg

A shipping container is unloaded from a vessel in Mount Pleasant, South Carolina. The U.S.and China reignited trade tensions on Friday. 

TAKESHI KAWANAMI and ISSAKU HARADA, Nikkei staff writers

WASHINGTON/BEIJING -- China immediately declared plans for retaliatory tariffs of the "same scale and intensity" against the U.S. after President Donald Trump said Friday that his administration will proceed with a 25% levy on $50 billion worth of imports from the Asian country.

A total of 1,102 Chinese products will be affected, according to the final list announced by the United States Trade Representative on Friday. Washington plans to put the new rate into effect July 6 on 818 of the products, worth $34 billion, mainly on high-tech items like industrial robots and electronic components.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.