In a long-anticipated escalation of trade tensions between the US and China, the White House unveiled Tuesday a fresh list tariffs for 1,300 Chinese products in technological and manufacturing industries worth up to $50 billion of this year’s expected trade.
The duties, of up to 25% in addition to existing measures, will hit goods that the US believes enable its unfair trading practices, particularly with respect to intellectual property rights, Bloomberg reports. Product groups range from semiconductors and satellites to LEDs.
As expected, Chinese authorities have condemned the new proposals. China’s Ministry of Commerce said it “will soon take measures of equal intensity and scale against U.S. goods,” and that it China has “the confidence and ability to respond to any protectionist measures by the United States.”