US-China trade war ramping up: China slaps a 43% tariff on widely-used US chemical

ICYMI from Friday, a Chinese Ministry Of Commerce statement had a new impost on US good.

China has hit imports of propionic acid from the United States with a levy of 43.5%. The chemical is widely used in food, feed, pesticides and medical fields.

The Ministry Of Commerce cited an investigation found the Chinese domestic propionic acid industry was “materially damaged.”

The previous data, Thursday, China’s commerce ministry said it firmly objects to the U.S. raising tariffs and will take all necessary measures to protect its rights and interests.

This article was written by Eamonn Sheridan at www.forexlive.com.