Trade war escalated; the USA to slap additional tariffs on imports from China

The USA government on Tuesday, 10 July 2018 announced that it would impose additional 10 per cent tariffs on thousands of import products from China that worth USD 200 billion in an attempt to raise its stake in the trade war with China.

The lists include food products as well as tobacco, chemicals, coal, steel and aluminium. It also targets consumer products such as car tires, furniture, wood products, handbags and suitcases, dog and cat food, baseball gloves, carpets, doors, bicycles, skis, golf bags, toilet paper and beauty products, according to Reuters.

The new tariffs will not be implemented after a two-month period of public comment, however, businesses and lawmakers are quick to criticize the move, citing that this would pose a direct threat to the US consumers and retail firms.