China's Ministry of Commerce announced Monday it would file a case against the US with the World Trade Organization over the 15 percent tariffs imposed on September 1 on $300 billion worth of Chinese goods.
File photo: VCG
"The US move to apply tariffs severely violated the mutual agreement reached by China and the US during the 2019 G20 Osaka summit. China strongly opposes the action of the US and will defend its legitimate interests in accordance with WTO rules to firmly uphold a multilateral trading system and to maintain the global trade order," the ministry said in a statement.
Economists say raising tariffs on Chinese imports is hurting the US economy and its people. JP Morgan researchers found that American families will be facing an extra expense of $1,000 a year after the higher tariffs are applied.
(Compiled by Li Bowen)