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China vows retaliatory tariffs of 5-25pc on US$60 billion of US goods
来源： 编辑：编辑部 发布：2018/08/07 09:36:05
IF the US imposes tariffs against US$200 billion worth of annual imports from China, Beijing will retaliate. The warning came after US President Donald Trump asked the Office of the US Trade Representative to consider increasing tariffs pegged for those products from 10 per cent to 25 per cent.
Citing a Chinese Finance Ministry statement, Hong Kong's South China Morning Post reported that China would impose tariffs ranging from five to 25 per cent on $60 billion worth of US products, in the event the US follows through on its threats against the $200 billion in Chinese products. China has announced plans to impose tariffs against $50 billion in annual US exports, some of which are already being implemented.
The United States exported $130 billion worth of goods to China in 2017, while China exported $505 billion worth of goods to the US, reported American Shipper.
"The US has repeatedly betrayed the consensus reached by negotiations and accelerated the trade war unilaterally again," the finance ministry said. "It has seriously violated the principles of the World Trade Organisation."
The USTR-led interagency Section 301 Committee is due to hold a hearing to look into potential Section 301 tariffs on $200 billion worth of goods from August 20-23 at the International Trade Commission in Washington.
Citing a Chinese Finance Ministry statement, Hong Kong's South China Morning Post reported that China would impose tariffs ranging from five to 25 per cent on $60 billion worth of US products, in the event the US follows through on its threats against the $200 billion in Chinese products. China has announced plans to impose tariffs against $50 billion in annual US exports, some of which are already being implemented.
The United States exported $130 billion worth of goods to China in 2017, while China exported $505 billion worth of goods to the US, reported American Shipper.
"The US has repeatedly betrayed the consensus reached by negotiations and accelerated the trade war unilaterally again," the finance ministry said. "It has seriously violated the principles of the World Trade Organisation."
The USTR-led interagency Section 301 Committee is due to hold a hearing to look into potential Section 301 tariffs on $200 billion worth of goods from August 20-23 at the International Trade Commission in Washington.