BUSINESS China says to evaluate impact of tariffs

BUSINESS

China says to evaluate impact of tariffs

CGTN

02:48, July 10, 2018

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(Photo: CGTN)

China considered the impact on trade and investment when making countermeasures on US tariffs, the Chinese Ministry of Commerce said on its official website Monday.

It stated that the country has to make necessary countermeasures after the US raised additional tariffs of 25 percent on Chinese products worth $34 billion last Friday.

The ministry said it will continue to evaluate the impact of US trade actions on Chinese companies, and it will use funds collected from tariffs on imports from the US to mitigate the effect of US trade actions on Chinese companies and their employees. 

It also said it will encourage companies to increase the import of agricultural products like soybeans, aquatic products, and vehicles from other markets. 

The ministry added that it will strengthen the protection of Chinese companies' legitimate rights and create a better environment for investment.

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