China Announces $75 Billion In Tariffs On US Imports

(TELESUR) – The Chinese Ministry of Commerce informed that the new tariffs will be applied to more than 5,000 U.S. products in two phases. The first stage would come into effect on September 1 and the second one on December 15.

China announced that it will impose additional tariffs worth 75,000 million dollars on imports U.S. products, following the measure recently taken by President Donald Trump against the China’s customs fees.

“These additional tariffs will evolve in a range of between 5 and 10 percent and will be applied to 5,078 US products in two phases. The first from September 1 and the other by 15 from December”, Chinese Ministry of Commerce published on an official statement.

“On December 15, tariffs of 25 percent, that China had suspended last April, will be resumed for U.S. cars and 5 percent for automotive industry parts and components,” the text added.

The United States threatens to impose an additional 10 percent tariff on Chinese imports worth approximately $ 300 billion.

China will not stand idly and has vowed to respond accordingly. “Trade wars do not produce winners. China does not want a trade war, but is not afraid to face one, and will fight it if necessary,” said Chinese Ministry of Commerce spokesman Gao Feng.

“If the US side goes forward stubbornly, that will have a serious negative impact on US consumers and businesses,” the Chinese official added.

On August 13, the commercial negotiating chiefs of China and the United States spoke via telephone, and agreed to resume dialogue again in two weeks. “The two negotiating teams have maintained communication,” Gao Feng explained.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.