CHINA China decides to impose additional tariffs on $16 bln of US imports

CHINA

China decides to impose additional tariffs on $16 bln of US imports

Xinhua

00:51, August 09, 2018

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(File photo: Xinhua)

BEIJING, Aug. 8 (Xinhua) -- China has decided to impose additional tariffs on imported products from the US worth about $16 billion, according to an official statement released Wednesday.

Approved by the State Council, the Customs Tariff Commission of the State Council has decided to impose additional duties of 25 percent on the $16-billion worth of products after making proper adjustments to the second part of a list of the products subject to the tariffs.

The additional duties will take effect at 12:01 on Aug. 23, 2018.

The list has been appropriately adjusted after taking into account the advice of related government departments, industry associations, and enterprises to best protect the interest of domestic consumers and companies.

Alongside the statement, the customs tariff commission published a final version of the second part of the list on the website of the Ministry of Finance.

In June, the customs authority unveiled a list of products from the US worth $50 billion that will be subject to additional tariffs in response to US announcement to impose additional duties on Chinese imports.

Additional duties on the US products in the first part of the list, worth $34 billion, came into force on July 6.

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