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Main » 2018 » August » 6 » China plans to impose tariffs on $ 60 billion of US goods
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China plans to impose tariffs on $ 60 billion of US goods

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China has announced plans to impose tariffs of up to 25% on US products worth $ 60 billion. 

The Chinese government announced on Friday that it would impose tariffs of 25%, 20%, 10% and 5% of US products if the administration Trump put into the reality of the threat to set taxes at a rate of $ 200 billion on Chinese goods.

 

 

 

 

 

"Breaking the bilateral agreements reached after several rounds of negotiations, the United States again unilaterally sharpened trade disputes", - said in a statement the Tariff Commission of the State Council of China, published on Friday. 

China has listed 5207 of US products on which he is ready to set tariffs in an attempt to "protect their legitimate interests." 

Products included in the rates include meat, coffee, nuts, alcoholic beverages, minerals, chemicals, leather products, wood products, machinery, furniture and auto parts. 

Sarah Sanders, a spokesman for the White House, said that "instead of answering, China should take into account the long-standing complaints about its unfair trade practices."

The United States and China trade in goods and services worth about $ 650 billion a year. The two countries share the largest trading links. 

China exports more to the United States than vice versa. These new rates will affect about 38% of all US exports to China, which is about $ 170 billion. 

Trade tensions between the United States and China is growing in April 2017, when President Donald Trump instructed the US Department of Commerce to consider whether steel imports threatens aluminum from China and other countries to national security. 

The investigation resulted in steel prices of steel and aluminum products from China and many other countries. Beijing introduced countermeasures.

Then, in July, the United States established tariffs on $ 34 billion of Chinese goods to pressure the country whose administration Trump accused of unfair trade practices and intellectual property theft. Beijing again equivalent tariffs, focusing on US goods such as motorcycles and satellite communications. 

The most recent threat by the administration Trump sounded this week when the US warned that they may impose a more severe rates than originally planned, to the other party of imports from China. 

Earlier, the White House requested the Office of the United States Trade Representative asking about the possibility of a 10% tariff on Chinese goods worth $ 200 billion. According to the new plan will be applied tariffs at a rate of 25%.

The protectionist moves by the United States received the response from other major trading partners. Canada, Mexico and the European Union have responded to US taxes on steel and aluminum retaliatory tariffs. 

 

 

Based on materials WELTRADE

 

 

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