China starts additional tariffs on some U.S. goods

China has on Sunday started imposing additional tariffs on some of the U.S. goods on a $75-billion target list, with take effect from 4:01 a.m. GMT.

The additional 5 percent and 10 percent tariffs were levied on 1,717 items of a total of 5,078 products originating from the United States. Beijing will start collecting additional tariffs on the rest of the items from December 15.

Beijing started levying a 5 percent tariff on U.S. crude oil from Sunday, the first time U.S. oil has been targeted since the world’s two largest economies commenced their trade war more than a year ago.

Source: Reuters