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China to impose additional tariffs on US imports

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In response to the United States (US) additional duties on Chinese imports, China has released a list of US products that will be subjected to additional tariffs.

On June 15, the US announced additional tariffs of 25 percent on Chinese imports worth approximately 50 billion US dollars.

The State Council has approved the Customs Tariff Commission of the State Council’s decision to impose additional duties of 25 percent on 659 items of U.S. products worth about 50 billion US dollars, as per Xinhua.

Additional tariffs for 545 items of about 34 billion US dollars which includes agricultural products, vehicles and aquatic products will be effective from July 6.

The implementation date for imposing additional tariffs on the remaining 114 items will be announced later.

“The U.S. 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. The Chinese side firmly opposes that,” Xinhua quoted the statement by the Foreign Trade Law of China and the Regulations of the People’s Republic of China on Import and Export Duties.

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