China lodges solemn representations with US over additional tariffs

17:03, August 29, 2019

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  China lodges solemn representations with US over additional tariffs

  China has lodged solemn representations with the United States over additional tariffs imposed on 550 billion U.S. dollars of Chinese imports, Gao Feng, spokesperson for the Chinese Ministry of Commerce (MOFCOM) said on Thursday.Photo: CGTNChina can take adequate countermeasures but the current priority is for the U.S. side to cancel the additional tariffs on 550 billion U.S. dollars of Chinese imports so as to prevent the trade war from escalating, Gao noted.The spokesperson also stressed that an escalating trade war is bad for both China and the U.S. and against the interests of people around the world."It could even bring catastrophic consequences to the world," Gao warned.

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  China lodges complaint with WTO over fresh US tariffs

  Chinas 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)

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  China to impose additional tariffs on US imports worth 75 bln USD

  File photoBEIJING, Aug. 23 (Xinhua) -- China will impose additional tariffs on U.S. imports worth about 75 billion U.S. dollars in response to the newly announced U.S. tariff hikes on Chinese goods, the Customs Tariff Commission of the State Council announced Friday.Based on laws and approved by the State Council, a total of 5,078 U.S. products will be subject to additional tariffs of 10 percent or 5 percent. The tariff hikes will be implemented in two batches and take effect at 12:01 p.m. Beijing time on Sept. 1 and at 12:01 p.m. on Dec. 15, respectively, the commission said in a statement.The U.S. government announced on Aug. 15 that it will impose additional tariffs of 10 percent on Chinese goods worth about 300 billion dollars, effective on Sept. 1 and Dec. 15, respectively, in two batches.The U.S. move has led to a further escalation of bilateral trade frictions, greatly damaging the interests of China, the United States and other countries, and also gravely threatening the multilateral trading system and free trade principles, the statement said.The commission will continue with the work of exempting certain items from additional tariffs.Chinas imposition of additional tariffs is a forced response to U.S. unilateralism and trade protectionism.China reiterates once again that cooperation is the only correct choice for China and the United States, and that only a win-win situation will lead to a better future."We hope China and the United States will resolve differences in a manner acceptable to both sides on the premise of mutual respect, equality, good faith, and consistency of words and deeds," the statement said.The two sides are expected to actively build a new balanced, inclusive and win-win Sino-U.S. economic and trade order, jointly safeguard, reform and improve the multilateral trading system, and promote win-win cooperation with other countries in the world, the statement added.