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Posts : 20099
Join date : 2015-05-20
Location : United States

China announced it would introduce a 25% duty on US $ 50 billion in customs duties

on Wed Apr 04, 2018 12:06 pm
China has announced the introduction of new tariffs of 25% on US imports totaling $ 50 billion.

This was reported by Bloomberg.

The final date for the entry into force of the new duties will be announced shortly.

Vice-Minister of Commerce of China Wang Shoowen said that new customs restrictions relate to trade measures by the administration of US President Donald Trump, in particular in the area of ​​taxation of Chinese high-tech products.

At the same time, China's Finance Minister Zhou Guangjiao said that China is still ready to negotiate with the United States to avoid a worsening of the trade conflict.

US stock markets have already responded to a sharp drop in Chinese government claims: Boing's aircraft shipments fell by about 5.9% in the first minutes after the announcement.

Earlier, the administration of Donald Trump introduced additional customs restrictions on Chinese imports to the country for a total of about $ 50 billion . Later, in response to such actions, China introduced similar tariffs of $ 3 billion of US goods imported into the PRC.

Donald Trump also introduced import duties on steel (25%) and aluminum (10%). The orders signed by the president came into force on March 23. Mexico and Canada are still excluded from the list of countries.

Merkel condemned the introduction by the United States of duties on metals.

The Ukrainian government has said it is working to bring Ukrainian metal products out of US customs duties.  In Ukrainian/український
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