Last week, the Trump administration increased the tariff rate on $200 billion worth of Chinese goods from 10 percent to 25 percent. This increased tax on nearly one-third of goods from the world's second largest economy came after U.S. officials felt that China did not comply with past trade commitments. In turn, the Chinese government said it will take “necessary countermeasures.” It has already announced it will tax $110 billion of American products, according to the Huffington Post, but is running out of options for additional U.S. goods to tax due to the “lopsided trade balance.”
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