The USA imposed tariffs on $200bn worth of imports from China on 24 September, including plastics and petrochemicals. On 1 January, the tariffs will rise to 25%.
If China takes ‘retaliatory actions’, then Trump threatened another round of tariffs on $267bn worth of additional imports, he said. China threatened to retaliate with its own list of 5-25% tariffs on $60bn worth of imports from the US, many of which also include chemicals.
China has submitted a request to World Trade Organization for authorisation to impose over $7bn of sanctions annually on the USA.
