In consideration of USTR’s (The United State Trade Representative) initiative on August 1^st to slap tariffs on $200 billion of Chinese products (25% from 10%), China Ministry of Finance released a notice along with 4 product lists on August 3^rd indicating that additional tariffs ranging from 5% to 25% will be applied to 5207 imported items from the U.S., covering a total trade value of about $60 billion. However, the implementation date and follow-up measures will be subject to further notice.