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Graphic shows key events in U.S.-China trade dispute since January.
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BUSINESS

U.S.-China trade dispute timeline

By Duncan Mil

September 24, 2018 - China has vowed to add $60 billion of U.S. products to its import tariff list in retaliation for President Donald Trump’s new tariffs on $200 billion of Chinese imports, which take effect next Monday.

Washington has hit Beijing with tariffs four times so far this year, with taxes on washing machines and solar panels in January, steel and aluminium in March. Duties on $34bn of Chinese imports in July and tariffs on $16bn of Chinese imports in August. In each case, China’s President Xi Jinping has responded in kind.

Now President Trump is ramping up tensions between the world’s top two economies by imposing 10 per cent tariffs on as much as $200 billion of goods made in China starting on September 24, bringing the total to $250 billion -- nearly half of all Chinese imports.

American consumers are now set to get a taste of Trump’s trade war. Thousands of goods, ranging from dishwashers, freezers and clothes to Nike shoes, Fitbit fitness trackers to food seasonings, are poised to become more expensive in the U.S., costing consumers roughly $6 billion a year, according to the National Retail Federation (NRF).

The report showed that the proposed 25% tariff on furniture from China would cost Americans $4.6 billion per year in added cost “even if retailers switched their sourcing to other foreign countries or U.S. furniture makers.”

Sources
PUBLISHED: 19/09/2018; STORY: Graphic News; PICTURES: Associated Press
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