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Sinotech: No Sign of a U.S.-China Trade Agreement
The trade war continues. The United States and China imposed their latest waves of tariffs on Sept. 24, deepening tensions between the two countries. The U.S. kicked things off with new 10 percent duties against $200 billion in Chinese imports; those will increase to 25 percent on Jan. 1. The United States is now levying tariffs against $250 billion in Chinese imports. President Trump has also threatened tariffs against an additional $267 billion in Chinese imports combined with existing tariffs, that sum would cover all Chinese imports to the U.S. but the U.S. trade representative has not initiated the agency rulemaking process necessary to implement those threats. China immediately responded by imposing 5 to 10 percent tariffs against $60 billion in American imports and by lodging a new complaint against the United States at the World Trade Organization.
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