It looks like the US-China trade war is going to heat up a bit.
Trump administration announces list of tariffs on $200 billion in Chinese goods
- The Trump administration on Tuesday announced a list of tariffs on $200 billion in Chinese goods, making good on the president’s recent threats to escalate a broadening trade war with Beijing.
- The tariffs will undergo a two-month review process, with hearings Aug. 20-23.
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Published 2 Hours Ago Updated 1 Hour AgoCNBC.com
Kevin Dietsch | Pool via Bloomberg | Getty Images
President Donald Trump waves while boarding Air Force One at Joint Base Andrews, Maryland, on Thursday, May 31, 2018.
The Trump administration on Tuesday
of 10 percent tariffs on $200 billion in Chinese goods, making good on the president’s recent threats to escalate a broadening trade war with Beijing.
“The $200 billion figure we're looking at is roughly equal to their exports to us,” a senior administration official said.
The tariffs will not go into effect immediately but will undergo a two-month review process, with hearings Aug. 20-23.
Some of the products on the list facing tariffs are from Made in China 2025 sectors, the official said. Made in China 2025 is a
, including technology.
When compiling the list of goods, the U.S. Trade Representative took into account what could cause disruptions to China's economy.
The official said the administration has been extremely clear to China in terms of its concerns about trade, but China has been unresponsive.