China-U.S. Trade War Escalation

SOURCE www.nbcnews.com
China imposes a 34% tariff on all U.S. imports in response to reciprocal tariffs imposed by President Trump, escalating the trade war between the two countries.

Key Points

  • China imposes 34% tariff on all U.S. imports in response to U.S. tariffs
  • U.S. has imposed a total tariff of at least 54% on some Chinese goods
  • China urges Trump administration to cancel tariffs and resolve disputes through consultations
  • China's Ministry of Finance criticizes U.S. tariffs as unilateral bullying
  • China's tariff on U.S. goods takes effect next Thursday
  • U.S. tariff on Chinese goods takes effect on Wednesday