New U.S., China tariffs set to take effect

24/9/2018 11:56

        The United States and China are set to impose new tit-for-tat tariffs against each other's goods on Monday, the latest escalation in a heated trade war between the world's two largest economies. U.S. tariffs on $200 billion worth of Chinese goods and retaliatory tariffs by Beijing on $60 billion worth of U.S. products are scheduled take effect at 0401 GMT. The two countries already exchanged tariffs on $50 billion worth of each other's goods earlier this year. Though a senior White House official last week said the United States will continue to engage China for a "positive way forward," neither side has signalled willingness to compromise. The U.S. official said on Friday there was no date set for the next round of talks. The Wall Street Journal reported China has cancelled upcoming trade discussions with the United States and will not send vice-premier Liu He to Washington this week. Economists warn that a protracted dispute will eventually stunt growth not just in t
        he U.S. and China but across the broader global economy.