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ECONOMY > Trade

U.S. to impose third round of tariffs on Chinese goods

All networks reported at noon that President Trump announced that the U.S. will impose its third round of additional tariffs of 10% on Chinese goods worth $200 billion that will take effect on Sept. 24, saying that nearly half of all Chinese imports to the U.S. will be subject to additional tariffs as a result. Noting that China is expected to impose retaliatory tariffs on U.S. products worth 60 billion dollars, the network said there is growing concern in Japan that Japanese consumers and companies will be negatively affected in the near future. 

 

The network showed Japan Foreign Trade Council Chairman Nakamura saying: “Japanese consumers will be affected in the not-so-distant future, and corporate activities will be restricted….I wonder if the two nations can stop the escalation by talking to each other.” Finance Minister Aso reportedly said: “The U.S. and China are the No.1 and No. 2 economic powers in the world. If the trade volume between the two nations shrinks, their economies will shrink as well. Since the impact on other nations will be huge, they need to hold discussions.” Economic Minister Seko said: “This will not only become a major obstacle to global economic growth, but could also have unforeseen negative effects on nations other than the U.S. and China. We will thoroughly communicate with Japanese companies to grasp the situation and consider how to respond.”

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