U.S. blames China 'retreat from commitments' as stage is set for 25% tariff
The Office of the U.S. Trade Representative set a Friday effective date to increase tariffs on an estimated $200 billion of China goods to 25% from 10%. The move was as anticipated and comes as the U.S. complains that China has backtracked on key positions in their bilateral trade talks. "In the most recent negotiations, China has chosen to retreat from specific commitments agreed to in earlier rounds," the document reads.
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