China Sets Date For Its Newest Tariff Counter-attack

China will slap 25% tariff rate on $16 billion worth of its U.S. imports, starting August 23 – in an apparent tit-for-tat against the U.S.

The announcement from the Chinese Ministry of Commerce comes close on the heels of the U.S. Trade Representative’s decision to impose 25% levies on $16 billion of Chinese goods also commencing on August 23.

And the ‘war’ might be far from over.  The U.S. is also weighing its options to raise tariff rate to 25% from 10% on an additional $200 billion of Chinese imports. Should the U.S. go forward with the tariff hike, China is ready with a list of $60 billion worth of American goods to impose further levies on.  

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Sergey Savastiouk|Expert

Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.