Beijing announced this Friday (3-8-2018) tariffs on the import of American goods valued at US$60.000 billion, ranging from liquefied natural gas (LNG) to certain aircraft.
Meanwhile, a senior Chinese diplomat expressed doubts that possible talks with Washington would resolve the trade dispute, given the US's behavior.
The Trump administration this week stepped up pressure for trade concessions from Beijing by proposing a higher tariff of 25 percent on $200.000 billion in imports from China.
China immediately vowed to retaliate, but at the same time called on Washington to act rationally and resume negotiations to resolve the dispute.
Tariff route
1.USAIn July, Washington imposed tariffs on 25% to US$34.000 billion Chinese exports, and Beijing responded with levies of the same amount on American shipments.
2.USA.The United States would soon apply More tariffs on US$16.000 billion on Chinese products, while Beijing has already announced that it will match them immediately.
3.CHINA. The country has now imposed or proposed tariffs on US goods worth US$110.000 million, which accounts for the vast majority of China's annual imports of U.S. products. Last year, Beijing imported about $130.000 billion worth of U.S. goods.
4.CHINA. The Chinese Ministry of Commerce has submitted a new proposal for tariffs on imports of 5.207 US assets, with taxes ranging from 5% to 25%. The timing of the new tariffs on U.S. goods will depend on Washington's actions, the ministry said in a separate statement.
"The US side has repeatedly escalated the situation against the interests of both enterprises and consumers," the Chinese Ministry of Commerce said. "China has to take necessary countermeasures to defend its dignity and the interests of its people," it added.
Representatives for the White House and the U.S. Commerce Department did not immediately respond to requests for comment on China's move.
Washington says China is stealing American corporate secrets and wants to stop it from doing so, and is also seeking to get Beijing to abandon plans to shore up its high-tech industries at America's expense.
Source: Reuters
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
