China Will Retaliate With Tariffs on $60 Billion US Goods

Following reports of U.S. President Donald Trump’s fresh round of levies on Chinese goods, China has hit back with its own tariff list against U.S. goods.

On Tuesday, the Chinese government announced that it will slap tariffs at rates of 5% or 10%(depending on the product) on US goods worth $60 billion, starting September 24.

This comes shortly after a Wall Street Journal report mentioned that U.S. will impose tariffs on an additional $200 billion worth of Chinese goods. The tariff rates will start at 10%, and then rise to 25% at the end of the year. U.S. tariffs on Chinese goods will also commence on September 24.

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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.

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