BIGtheme.net http://bigtheme.net/ecommerce/opencart OpenCart Templates
Home / ASIA / China unveils list of US goods to face additional tariffs

China unveils list of US goods to face additional tariffs

Muslim Times(Web Desk) – China has unveiled a list of US goods worth $16 billion to face additional tariffs of 25 percent, the Chinese Commerce Ministry said, amid an escalating trade tariff spat between the two countries.

The Chinese ministry said on Wednesday that the new tariffs will be imposed on 333 US goods, including fuel and steel products as well as autos and medical equipment.

The ministry added that the 25-percent duties will take effect on August 23, which coincides with the day the administration of US President Donald Trump will begin imposing 25-percent tariffs on an additional $16 billion worth of Chinese goods.

The office of the US Trade Representative (USTR) announced on Tuesday that the duties would be imposed on 279 product lines.

“This is a very unreasonable practice,” the Chinese ministry said of the US move.

Washington imposed 25-percent duties on $34 billion of imports from China in early July.

Beijing, for its part, announced that its tit-for-tat duties had taken effect on $34 billion of US goods that included soybeans and electric vehicles.

China warned the US that it would have no choice but to take “necessary countermeasures” against Washington.

About Muslim Times

Check Also

$60 million in virtual currency hacked in Japan

(AFP) – Bitcoin and other digital currency worth around 6.7 billion yen ($60 million) have ...