U.S.-China trade war heats up as grace period ends on June 1st
- 5 years ago
On the trade front,... the trade war between U.S. and China is expected to heat up again.. as the two sides were not able to come up with an agreement... before their grace period ended today.
According to China's state-run newspaper Huanqiu Shibao,... the first Chinese cargo ship carrying products subject to Washington's additional tariffs.... arrived at a U.S. port on Saturday.
Last month, Washington announced... that it would raise duties on 200 billion U.S. dollars worth of Chinese goods... to 25 percent from 10 percent.
A week later, China also vowed to categorically raise tariffs... on 60 billion dollars worth of American goods beginning on June 1st.
According to China's state-run newspaper Huanqiu Shibao,... the first Chinese cargo ship carrying products subject to Washington's additional tariffs.... arrived at a U.S. port on Saturday.
Last month, Washington announced... that it would raise duties on 200 billion U.S. dollars worth of Chinese goods... to 25 percent from 10 percent.
A week later, China also vowed to categorically raise tariffs... on 60 billion dollars worth of American goods beginning on June 1st.