Chinese Goods: Percent and Tariffs

chinese goods: Starting on October 1, the US will raise tariffs on 250 billion in Chinese goods to 30 percent from 25 percent, according to Global Times China. Starting on September 1, tariffs on another 300 billion in products will be increased to 15 percent from 10 percent, US President Donald Trump tweeted on Friday after China announced new tariffs on 75 billion in US goods. The further it goes toward a dead end on trade unilateralism, the worse its economy suffers and the more isolated it becomes in the world trade, analysts said. In a stern response to US threat to raise tariffs on 550 billion of Chinese imports, China's Ministry of Commerce on Saturday urged the US not to misjudge the situation and not to underestimate the determination of the Chinese people. The US' unilateral and bullying trade protectionism and its extreme pressure tactic violate the consensus reached by the top leaders of China and the US, go against the principle of mutual respect, equality and mutual benefit, seriously undermine the multilateral trading system and the normal international trade order. The US should stop the wrong actions; otherwise, all consequences must be borne by the US side, a spokesperson for the Ministry of Commerce said in a statement. (news.financializer.com). As reported in the news.