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China – US trade war unveiled

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CHINA-US-BEIJING-WANG YI-TALKS (CN) by .
- Chinese State Councilor and Foreign Minister Wang Yi and U.S. Secretary of State Mike Pompeo meet the press after their talks in Beijing, capital of China,

China  unveiled a list of products from the United States that will be subject to additional tariffs in response to US announcement to impose additional duties on Chinese imports.

 

CHINA-US-BEIJING-WANG YI-TALKS (CN) by .
(180614) — BEIJING, June 14, 2018 (Xinhua) — Chinese State Councilor and Foreign Minister Wang Yi and U.S. Secretary of State Mike Pompeo meet the press after their talks in Beijing, capital of China,

Approved by the State Council, the Customs Tariff Commission of the State Council decided to impose additional duty of 25 per cent on 659 items of US products worth about 50 billion US dollars, Xinhua reported.

Additional tariffs for 545 items worth about 34 billion US dollars, including agricultural products, vehicles and aquatic products, will be effective from July 6, 2018, according to a statement of the commission.

The implementation date for imposing additional tariffs on the rest of the items will be announced later.

The decision has been made in line with relevant stipulations of the Foreign Trade Law of China and the Regulations of the People’s Republic of China on Import and Export Duties, as well as the fundamental principles of international laws, said the statement.

On Friday, the United States announced additional tariffs of 25 percent on Chinese imports worth approximately 50 billion US dollars.

From July 6, additional tariffs will be levied on some 34 billion US dollars worth of Chinese products. Meanwhile, the other 16 billion dollars worth of Chinese products will undergo further review in a public notice and comment process.

“The US move violates the relevant rules of the World Trade Organization, goes against the consensus already reached in bilateral economic and trade consultations, seriously infringes upon the legitimate rights and interests of the Chinese side and undermines the interests of China and its people,” said the statement.