U.S., China kick off new round of tariffs in trade war

Arirang News 2019-09-01

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The trade war between the world's two biggest economies escalates further,... as the two nations have begun imposing additional tariffs on each other's goods beginning September 1st.
The latest tariffs come despite signs that talks between the two will resume later this month.
Our Lee Seung-jae has more on a trade dispute that's entered a whole new territory.
The U.S. has begun imposing its additional 15-percent tariffs on more than 125-billion U.S. dollars of Chinese imports,... including smart speakers, Bluetooth headphones and footwear.
In return,... China has also begun imposing a 5-percent tariff on U.S. crude oil on Sunday the first time U.S. oil has been targeted since the two countries began their trade war more than a year ago.
Speaking to reporters at the White House on Sunday,... President Trump said the U.S. will be giving some of the money from the tariffs to U.S. farmers,... who he says have been targeted unfairly by China.
"We are taking in tens of billions of dollars, we're giving some of the money to the farmers, making the farmers more than whole. The farmers are doing better than if China frankly were buying. I'm taking a piece of the massive amount of tariffs we're giving them to the farmers who have been targeted unfairly by China."

Despite the two nations imposing tariffs on each other's goods,... Washington and Beijing will continue their trade talks and will meet in September.
We are talking to China. The meeting is still on as you know September, that hasn't changed, they haven't changed it, we haven't. We'll see what happens. But we can't allow China to rip us off anymore as a country. We can't allow China to take five hundred billion dollars a year out of our country. We can't do that."
Beijing has pressed Washington to call off the tariff increase,... but said last week that trade talks were still being discussed between the two.
The extra tariffs will further harm Washington-Beijing ties,... already strained by U.S. freedom of navigation exercises near Chinese-occupied islands in the disputed South China Sea, and U.S. support for self-ruled and democratic Taiwan,... which China claims as its own.
Lee Seung-jae, Arirang News.

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