Expanded US 50-pct tariff on steel, aluminum derivatives takes effect

Effective Monday, the United States expanded the scope of its 50 percent tariff on hundreds of steel and aluminum derivative products.

On Friday, the U.S. added 407 derivative products to the list of imports subject to 50 percent tariff as they contain steel and aluminum components.

The Trump administration raised the tariff on steel and aluminum imports to 25 percent in February, and doubled it to 50 percent in May this year.

Expanded US 50-pct tariff on steel, aluminum derivatives takes effect

Expanded US 50-pct tariff on steel, aluminum derivatives takes effect

Expanded US 50-pct tariff on steel, aluminum derivatives takes effect

Expanded US 50-pct tariff on steel, aluminum derivatives takes effect

Chinese stocks closed lower on Friday, with the benchmark Shanghai Composite Index down 0.26 percent to 4,101.91 points.

The Shenzhen Component Index closed 0.18 percent lower at 14,281.08 points.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 0.2 percent to close at 3,361.02 points.

The ChiNext Index, together with the Shenzhen Component Index and other indices, reflects the performance of stocks listed on the Shenzhen Stock Exchange.

Chinese shares close lower Friday