ZCZC
BCN-46
CHINA-TRADE-TARIFF-US
China to impose additional tariffs on U.S. products worth 60 bln USD
BEIJING, Sept. 19, 2018 (BSS/Xinhua) – China announced on Tuesday it will
impose additional tariffs on U.S. products worth 60 billion U.S. dollars
starting from Sept. 24 in response to the newly announced U.S. tariffs on
Chinese goods.
The Customs Tariff Commission of the State Council unveiled lists of 3,571
items of U.S. products to be subject to additional tariffs of 10 percent, and
lists of another 1,636 items to be subject to additional tariffs of 5
percent.
The new tax rates will take effect at 12:01 p.m. Beijing time on Sept. 24,
said the commission.
The willful decision of the U.S. government has led to the escalation of
trade friction between the two countries. China was forced to take
countermeasures in defense of free trade and multilateral system, and its own
legitimate rights and interests, the commission said in a statement.
If the U.S. side continues to do so, China will respond in kind, it added.
China has no choice but to respond to the U.S. unilateralism and trade
protectionism with tariffs in order to stem the friction from escalating.
China hopes the U.S. side will stop frictions from expanding and jointly
safeguard bilateral trade ties with China through equal, honest and pragmatic
dialogue, on the basis of mutual respect and mutual benefits, said the
statement.
That will also serve to defend the free trade principle and multilateral
trade system, and global economic prosperity and development, it said.
The United States, disregarding overwhelming international and domestic
opposition, announced to impose additional 10-percent tariffs on 200 billion
U.S. dollars worth of Chinese products from Sept. 24 and that it will take
other escalating tariff measures.
BSS/XINHUA/HR/1440