China Vows To Counter Planned US Tariff On $300B Of Goods

Law360 (August 15, 2019, 4:52 PM EDT) -- China pledged Thursday to strike back against the White House's plan to impose a new 10% tariff on roughly $300 billion worth of Chinese goods, saying the duties violate an agreement between President Donald Trump and Chinese President Xi Jinping.

China's remarks that it will take "necessary countermeasures" come on the heels of the Trump administration's decision to delay the tariff, which is set to take effect Sept. 1, for some consumer items like cellphones, laptops, video game consoles and clothing — an effort to sidestep price increases during the holiday shopping season.

The retaliatory threat from China’s Finance Ministry also...

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