China to slap retaliatory tariffs on $16 bil. of U.S. goods

China said Wednesday it has decided to impose additional retaliatory tariffs on $16 billion worth of imported products from the United States.The Commerce Ministry said a 25 percent charge will cover 333 goods including vehicles, as well as oil-related and steel products, effective Aug. 23.The move came a day after the Office of the U.S. Trade Representative published its finalized list for new tariffs on $16 billion in Chinese goods, also starting Aug. 23.Commenting on the decision, a ministry spokesperson said it is totally unreasonable for the United States to put domestic laws above int…READ FULL ARTICLE