The following article by David J. Lynch, Damian Paletta and Amanda Erickson was posted on the Washington Post website August 8, 2018:
China will impose 25 percent import tariffs on $16 billion of U.S. goods on Aug. 23, in response to the Trump administration’s additional proposed tariffs. (Reuters)
Nearly five months after President Trump first confronted China with tariffs over its trade practices, the two countries are further than ever from resolving their differences and appear to be digging in for what is likely to be a long and bruising conflict.
China said Wednesday that it would impose tariffs on an additional $16 billion in U.S. autos and energy products, retaliating for the Trump administration’s latest import levies on an equivalent value of Chinese goods.
Beijing signaled this week that it might target prominent American companies such as Apple if the trade dispute escalates. The iPhone maker relies upon China for one-fifth of its $229 billion in annual revenue, “leaving it exposed if Chinese people make it a target of anger and nationalist sentiment,” warned a commentary in the state-owned China Daily.