China threatened another batch of tariffs on U.S. imports this week, including 25 percent duties on hardwood and softwood, according to IHB.
The latest threat in the escalating trade war between the two countries came two days after President Trump directed his administration to examine increasing tariffs the U.S. proposed in July from 10 percent on $200 billion worth of Chinese products to 25 percent, according to The New York Times. Those earlier proposed U.S. tariffs included Chinese wood flooring.
China’s newly proposed tariffs would impact 5,207 U.S. tariff categories, worth $60 billion annually. The tariffs range from 10 to 25 percent.
“Because the U.S. side has repeatedly escalated the situation despite the interests of both enterprises and consumers, China has to take necessary counter-measures to defend the country’s dignity and the interests of the people, defend free trade and the multilateral system, and defend the common interests of all countries in the world,” the Chinese government said in a statement.
