Sunday , January 26 2020

China to impose new tariffs on $75 billion of US imports: government

us and china

BEIJING (Web Desk): On Friday, August 23, 2019, China announced it will hit United States imports worth $75 billion with new rates starting September 1 and December 15, as revenge for Washington’s planned rate hikes in a staining trade war.

China’s state council tariff office said that the punitive tariffs will range from 5 percent to 10 percent on 5,078 items from the United States.

Related: the US designates China ‘currency manipulator’ as trade war rages

Beijing also announced it will impose a 25 percent tariff on United States vehicles and a 5 percent tariff on auto-parts starting December 15.

China had lifted punitive tariffs on American cars and auto-parts earlier this year as a goodwill measure while trade talks were proceeding.

Related: China to cut ties with US firms that sell arms to Taiwan

China’s State Council Tariff Commission Office said in a statement that the tariff hikes by the United States “have led to the continuous escalation of China-US (United States) economic and trade resistances, violating the consensus reached by the two heads of state in Argentina and the agreement reached in Osaka,”

United States President Donald Trump has imposed steep tariffs on $250 billion in Chinese goods, with a further $300 billion in imports targeted for new duties in two more rounds, September 1 and December 15.

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