China Imposes Additional Tariffs on US Imports in Retaliation
Beijing, China
China will impose additional tariffs on certain products imported from the United States, effective March 10, according to the Customs Tariff Commission of the State Council. The move comes in response to the US imposition of additional tariffs on products imported from China, effective March 4.
Tariff Rates and Products Affected
An additional 15% tariff will be imposed on imported chicken, wheat, corn, and cotton originating from the United States. Sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables, and dairy products will be subject to an additional 10% tariff.
Retaliation against US Tariffs
The Chinese government has taken this step in response to the US imposition of tariffs on Chinese products. The commission stated that the unilateral imposition of tariffs by the United States undermines the multilateral trading system, increases the burden on American businesses and consumers, and erodes the foundation of China-US economic and trade cooperation.
Global Trade Relations
The escalating trade tensions between China and the US have raised concerns about the potential impact on global trade relations. The introduction of tariffs by both countries is expected to lead to higher prices for consumers, reduced trade, and potential economic losses.
Conclusion
In conclusion, China’s decision to impose additional tariffs on US imports is a retaliatory measure in response to the US tariffs on Chinese products. This development is likely to have far-reaching implications for global trade relations and economic cooperation between the two countries.
Frequently Asked Questions
Q: What are the affected products?
A: Chicken, wheat, corn, cotton, sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables, and dairy products.
Q: What is the effective date of the tariffs?
A: March 10
Q: Why is China imposing tariffs on US imports?
A: To retaliate against the US imposition of tariffs on Chinese products, which undermines the multilateral trading system and erodes the foundation of China-US economic and trade cooperation.
Q: What is the impact of the tariffs on global trade?
A: The tariffs are expected to lead to higher prices for consumers, reduced trade, and potential economic losses.
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