Beijing has prepared four lists with headings at the $60 billion that could be levied duties in the amount from 5 to 25%. Tariffs are introduced, if the US will not give up the “trade war”, they say in China
Photo: Pichi Chuang / Reuters
Customs Commission of the state Council of China in response to Washington’s decision to strengthen protectionist measures against imported US goods from China approved a new list of increased duties on a list of U.S. and canadian products that are exported by Washington and Ottawa to China. This is stated in the statement published on the official website of the Ministry of Finance of China.
On 2493 product (.pdf) Beijing may increase the import duty to 25% are agricultural products, minerals, chemicals, perfumery and cosmetics, contraceptives, leather products, wood, textiles, carpets, clothing and footwear, iron and steel products and so on., for other 1078 points (.pdf) the import duties will rise to 20% (drinks, canned food, flour products, paper products, computers, batteries, navigational instruments, optics, musical instruments, Antiques).
On 974 product (.pdf) tax increase to 10% (animals, meat products, rubber products, sports equipment, etc.), and up to 5% rate rise to 662 positions, which are listed in the attached list are, in particular, chemical and organic compounds and fertilizers, antibiotics, medical devices and much more. The total duty may be imposed on goods worth $60 billion.
The statement of the Commission of the state Council stresses that Beijing will not resort to the introduction of these measures, but will execute them if the U.S. decides to “implement its measures on increase of tariffs”.
“The Chinese side will take the aforementioned steps to introduce tariffs to protect their legitimate rights and interests, as well as counter the escalation of trade disputes by means of countermeasures”, — concluded the customs tariff Commission of the state Council of the Republic.
Third: the conflict between China and the United States for the benefit of Russia
Wednesday, August 1, Reuters and Blomberg, citing sources familiar with the situation, reported that the White house is going to offer a 25 percent duty instead of 10% on the additional products list from China for a total of $200 billion Interlocutors stressed that the American leader is going to step up pressure on China.
Trump in June threatened to impose additional duties against Chinese goods worth $200 billion In July Washington has prepared a list of products for new tariffs of 10%.
In mid-June, Washington imposed a 25 percent duties on a list of goods from China total volume of $50 billion for President Donald trump pointed out, that goes to such measures due to the fact that China conducts its trade is unfair and is stealing American technology. Beijing in early July, responded to this mirrored protectionist measures.