The United States is preparing to impose a higher tariff rate on billions of dollars worth of Chinese goods. The country's top trade negotiator and treasury secretary have shed more light on the surprise move.
The United States will more than double tariffs on some $200 billion (€179 billion) worth of Chinese goods on Friday because China backtracked on commitments it made in recent trade talks, top US officials said Monday.
The announcement came a day after US President Donald Trump's surprise announcement that the US would hike its tariffs amid talks between the world's two biggest economies on ending their trade war.
What you need to know:
What's the target? The tariff rate on a wide-ranging list of products, including baseball gloves, vacuum cleaners and burglar alarms, will increase from 10% to 25% at midnight on Friday.
Talks to continue: A Chinese Foreign Ministry spokesman said before the announcement that a trade delegation led by Vice Premier Liu He would attend further trade talks with the US on Thursday and Friday.
amp/aw (Reuters, AFP, AP)