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U.S. to impose tariffs on Chinese products on July 6

All papers reported on Saturday that the Trump administration has announced that it will impose additional 25% tariffs on $50 billion worth of Chinese imports in two phases starting on July 6 in retaliation for China’s violation of intellectual property rights. According to Nikkei, a tariff on about $34 billion worth of Chinese imports will be imposed first on July 6, and the timing of imposing a tariff on the remaining $16 billion worth of Chinese imports will be determined later. The paper said China immediately announced that it will impose retaliatory tariffs on U.S. imports, adding that the risk of a “trade war” breaking out between the two major economic powers is increasing. 

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