US announces tariffs on Chinese goods
The first round of the US's 25% punitive tariffs on Chinese goods will hit 50 billion USD starting on August 23, the US government announced on Tuesday.
The office of US Trade Representative Robert Lighthizer said its "exhaustive" investigation showed "China's acts, policies, and practices related to technology transfer, intellectual property, and innovation are unreasonable and discriminatory and burden US commerce." 279 new goods were targeted in the latest round of tariffs. Those include motorcycles, tractors, electronic circuits, motors, and farm equipment.