China to Raise Tariffs on US Imports by $75 Billion Starting September 1

China will increase tariffs on imports from the United States by 10% and 5%, amounting to a total of $75 billion, effective September 1 and December 15, reports korrespondent.net, citing a statement from the tariff committee of the State Council of the People’s Republic of China.

The measures have been taken in response to U.S. protectionism. The statement highlights, “Actions taken by the United States have led to further escalation of trade tensions between China and the U.S., causing significant damage to the interests of China, the United States, and other countries. They also pose a serious threat to the multilateral trading system and the principles of free trade.”

Earlier, U.S. President Donald Trump announced that Washington would impose a 10% tariff on $300 billion worth of goods starting September 1.