China announced to impose new tariffs on US imports. China will hit US imports worth $75 billion with new tariffs starting September 1 and December 15. Moreover, it is in retaliation of planned tariff increases by US. These tariffs will range from 5% to 10% on 5,078 items from the US. Beijing also announced to impose a 25 percent tariff on US autos. And a 5 percent tariff on auto parts will also be imposed starting December 15.
Although, China lifted tariffs on US cars and auto parts earlier this year as a goodwill measure during the trade talks. But US President Donald Trump imposed tariffs on Chinese goods worth $250 billion, with a further $300 billion in imports targeted for new duties in two more rounds, September 1 and December 15.