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China, U.S.: Beijing Threatens Retaliatory Tariffs on U.S. Imports, Trump Says He'll Respond Later

1 MIN READAug 23, 2019 | 15:40 GMT

What Happened: China has threatened retaliatory tariffs on a list of U.S. products in response to Washington's new import duties on $300 billion worth of Chinese goods, Bloomberg reported Aug. 23. U.S. President Donald Trump, meanwhile, said he would respond to Beijing's new tariffs later in the day.

Why It Matters: China is doubling down on its strategy of retaliating against U.S. tariffs, with Beijing's new import duties to target U.S. agricultural goods, such as pork and nuts, on Sept. 1. The country will also resume a 25 percent tariff on automobile products on Dec. 15.

Background: Trump announced on Twitter on Aug. 1 that the United States would impose additional tariffs on $300 billion worth of Chinese imports, only to decide last week to delay roughly half of the new tariffs until Dec. 15 to avoid increases in consumer prices.

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