China announces fresh tariffs on US$75 billion of US products
China announced on Friday it will impose as much 10 per cent on US$75 billion worth of US products following US President Donald Trump’s threats to impose new tariffs on Chinese imports next month, state media reported.
China said it would raise tariffs on items originating in the US from 5 per cent to 10 per cent, and the new tariffs will be implemented in two batches from September 1 and December 15. The duties are in retaliation for the US government’s 10 per cent tariff on US$300 billion worth of Chinese goods.
“The US measures have led to the continuous escalation of China-US economic and trade frictions, which have greatly harmed the interests of China, the US and other countries, and have also seriously threatened the multilateral trading system and the principle of free trade,” Xinhua reported, quoting the State Council’s Customs Tariff Commission.
On Thursday, China’s Ministry of Commerce said the central government would have to take countermeasures to safeguard its own interests if the US imposed the new tariffs on Chinese goods.
Washington has said it plans to impose the new tariffs in two batches from September 1 and December 15