- PressTV Published on Aug 23, 2018
The United States and China have imposed fresh tit-for-tat tariffs amid escalating trade tensions between the world’s two largest economies. Both sides implemented punitive 25 percent tariffs on 16 billion dollars worth of each other’s goods. The tariffs took effect amid talks in Washington between officials from both sides. Business groups expressed hope that the meeting would mark the start of negotiations over Chinese trade and economic policy changes demanded by the US president. Donald Trump, however, said he did not anticipate much from the talks. Trump has threatened to impose duties on virtually all of the more than 500 billion dollars of imported Chinese goods unless Beijing agrees to sweeping changes to its intellectual property practices. Beijing has denied US allegations that it systematically forces the unfair transfer of US technology.