CHINA China ready to levy differentiated tariffs on $60 billion worth of US goods

CHINA

China ready to levy differentiated tariffs on $60 billion worth of US goods

People's Daily app

20:17, August 03, 2018

China is ready to levy differentiated tariffs on 5,207 items of imported US goods worth $60 billion if the US further escalates trade frictions, the Ministry of Commerce announced on Friday.

The rates of additional tariffs on such products will be 25 percent, 20 percent, 10 percent, and 5 percent, according to the Customs Tariff Commission of the State Council.

The decision was made in response to US plan to raise tariffs to be imposed on 200 billion dollars of Chinese goods from 10 percent to 25 percent. 

China always believes that negotiation on the basis of mutual-respect and equity and mutual benefit is the efficient way to resolve trade dispute. Unilateral threat and blackmail will instead lead to escalation of frictions.

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(File photo)

China's response is "rational and restrained," and takes the interest of Chinese people into consideration, the ministry added.

The time the tariffs will come into effect will depend on the US' actions.

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