US President Donald Trump announced the introduction of 10 % duties on imports goods from China worth $ 200 bln from September 24, as well as the intention to introduce additional duties worth $267 bln, if Beijing takes retaliatory measures. This is according to a press release of the White House published on Monday.

"The tariffs will take effect on September 24, 2018, and be set at a level of 10% until the end of the year. On January 1, the tariffs will rise to 25%. Further, if China takes retaliatory action against our farmers or other industries, we will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports," according to the statement of the US leader.

"For months, we have urged China to change these unfair practices, and give fair and reciprocal treatment to American companies. We have been very clear about the type of changes that need to be made, and we have given China every opportunity to treat us more fairly," Trump said.

Trade War

In May, the White House announced that Washington intends to impose restrictions on certain China’s investments and 25% customs duties for the total sum of $50 bln on certain categories of its goods supplied to the US market. These measures will be taken due to the fact that "China has consistently taken advantage of the American economy with practices that undermine fair and reciprocal trade."

The duties were introduced in two takes for the sums of $34 bln and $16 bln on July 6 and August 23 respectively. The Chinese authorities immediately responded by imposing duties on US imports on similar amounts.