The Chinese Government announced the imposition from next September 1st of additional tariffs of between 5% and 10% on 5,078 products from the United States for an added value of 75,000 million dollars, according to the Ministry of Finance of China.
The date of entry into force of the new tariffs established by Beijing coincide with those stipulated by the US Government, which between September 1st and December 15th will tax with an additional 10% Chinese imports valued at 300,000 million of dollars.
In this regard, the Ministry of Finance of China said that “the US measures caused the escalation of trade and economic friction between the two countries, causing great damage to the interests of China, America and other nations, in addition to have seriously threatened the principles of free trade and the multilateral trading system. “
The Chinese counterattack contemplates the imposition from next month of an additional tariff of 10% on different products, such as beef and pork from the US, while US imports of soy or oil will be taxed with an additional 5%.
Also, from next December 15th, China will apply an additional 10% tariff on US imports of products such as coffee, citrus or different kinds of cars, while it will begin taxing an additional 5% on vehicle components.
K. Tovar
Source: Reuters
