China to impose new tariffs on $75b of US imports
Move comes in retaliation for Washington's planned tariff hikes in a bruising trade war
Move comes in retaliation for Washington's planned tariff hikes in a bruising trade war. PHOTO: REUTERS
BEIJING:
China announced Friday it will hit US imports worth $75 billion with new tariffs starting September 1 and December 15, as retaliation for Washington's planned tariff hikes in a bruising trade war.
The punitive tariffs will range from 5% to 10% on 5,078 items from the US, China's state council tariff office said.
Beijing also announced it will impose a 25% tariff on US autos and a 5% tariff on auto parts starting December 15.
China had lifted punitive tariffs on American cars and auto parts earlier this year as a goodwill measure while trade talks were underway.
The tariff hikes by the US "have led to the continuous escalation of China-US economic and trade frictions, violating the consensus reached by the two heads of state in Argentina and the consensus reached in Osaka," China's State Council Tariff Commission Office said in a statement.
US President Donald Trump has imposed steep tariffs on $250 billion in Chinese goods, with a further $300 billion in imports targeted for new duties in two more rounds, September 1 and December 15.
China announced Friday it will hit US imports worth $75 billion with new tariffs starting September 1 and December 15, as retaliation for Washington's planned tariff hikes in a bruising trade war.
The punitive tariffs will range from 5% to 10% on 5,078 items from the US, China's state council tariff office said.
Beijing also announced it will impose a 25% tariff on US autos and a 5% tariff on auto parts starting December 15.
China had lifted punitive tariffs on American cars and auto parts earlier this year as a goodwill measure while trade talks were underway.
The tariff hikes by the US "have led to the continuous escalation of China-US economic and trade frictions, violating the consensus reached by the two heads of state in Argentina and the consensus reached in Osaka," China's State Council Tariff Commission Office said in a statement.
US President Donald Trump has imposed steep tariffs on $250 billion in Chinese goods, with a further $300 billion in imports targeted for new duties in two more rounds, September 1 and December 15.