New tariffs imposed, larger round looms after US-China talks

The U.S. and China each imposed tariffs on about $16 billion of imports Thursday, and trade tensions between the world’s two largest economies appear ready to escalate after two days of talks failed to produce progress.

The duties imposed Thursday include automobiles and metal scrap from the U.S. and factory machinery and electronic components from China, the Associated Press reports.

Now, President Donald Trump’s administration is preparing a larger raft of tariffs that would affect about 6,000 Chinese products with an annual value of around $200 billion. The U.S. could impose those tariffs after the end of a comment period on Sept. 6.

Missouri sent $929 million worth of exports to China in 2017, making the country the state’s No. 3 export destination, behind Canada and Mexico. About 6.5 percent of the total value of Missouri exports last year went to China.

Read more: Bloomberg


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