U.S. Prepares Tariffs On Additional $300B Of Imported Chinese Goods

The Trump administration is preparing a new list of $300 billion worth of Chinese imports that would be hit with tariffs of up to 25%, after China retaliated Monday in the trade war between the world's two largest economies.

The Office of the U.S. Trade Representative published a list of Chinese goods that would be hit with new duties, ranging from artists' brushes and paint rollers to clocks and watches. The list also includes a wide range of sporting goods, from baseballs to fishing reels. And it dedicates several pages to agricultural products, from livestock to dairy, plants and vegetables. Staples such as rice and tea are on the list.

"The proposed product list covers essentially all products not currently covered by action in this investigation," the USTR office says. It adds, "The proposed product list excludes pharmaceuticals, certain pharmaceutical inputs, select medical goods, rare earth materials, and critical minerals."

The U.S. proposal will enter a public comment period and could take effect sometime in late June or July.

On Monday, China's State Council Customs Tariff Commission announced it will impose tariffs of up to 25% on $60 billion worth of U.S. goods starting in June, in retaliation for Trump's tariffs on $200 billion of Chinese goods.

The tit-for-tat exchange rattled stock markets on Monday, sending the Dow Jones Industrial Average down 2.4%. The tech-heavy Nasdaq composite closed the day down 3.4%. - Read More

U.S. Prepares Tariffs On Additional $300B Of Imported Chinese Goods

On Visit To Russia, Pompeo Says 'We Would Not Tolerate' Interference In 2020 Election