China says new tariffs to go into effect when US tariffs do
China will hit an additional $16 billion of US goods with 25% tariffs beginning Aug 23 in retaliation for US tariffs.
The Chinese list includes coal, oil, chemicals and some medical equipment. Both nations already have tariffs on $34 billion of goods.
The next shoe to drop is 25% tariffs on $200 billion in goods that could come as soon as Sept 6 when a comment period ends. China has promised to hit back with similar tariffs on $60 billion in US goods and may take other measures to hurt US M&A or IP.
The US market remains dismissive of the threat with the S&P 500 up 5 days in a row but as we get closer to the deadline, there will be jitters.
