China to retaliate with tariffs on US$50b US imports

China has unveiled a list of products from the United States that will be subject to additional tariffs in response to US announcement to impose additional duties on Chinese imports, the China Daily reported.

Approved by the State Council, the Customs Tariff Commission of the State Council has decided to impose additional duties of 25 percent on 659 items of US products worth about US$50 billion, it said.

Additional tariffs for 545 items worth about US$34 billion, including agricultural products, vehicles and aquatic products, will be effective from July 6, 2018

according to a statement of the commission.

The implementation date for imposing additional tariffs on the remaining 114 items, covering chemical products, medical equipment and energy products, will be announced later.

On Friday, the United States announced additional tariffs of 25 percent on Chinese imports worth approximately US$50 billion.

Source: Thai Public Broadcasting Service (ThaiPBS)

Post Author: thailandmirror.com