China Begins Counter-Measures in Trade Tariffs War with US

  • 4/3/2018
  • 00:00
  • 14
  • 0
  • 0
news-picture

China announced on Monday its "retaliatory and practical" measures in the trade tariff crisis sparked by the United States, revealing the entry into force of customs duties on 128 US goods, 120 of which now have 15 percent tariffs and eight others have 25 percent. However, Beijing has also urged trade talks with the US to prevent further damage to relations. China has criticized the administration of US President Donald Trump for imposing taxes on steel and aluminum and has responded by targeting some US products, including meat, fruit and wine. In its first response, China did not target major US goods, like airplanes, instead focusing on several small products, such as coconuts, cashew and almond nuts, as well as scrap aluminum. According to analysts, imposing fees on such products will first confirm Beijings position on its threats that it will respond strongly to the US move to impose tariffs on steel and aluminum. Secondly, it means that targeting small commodities may spark pressure on Trump’s administration more than major products or factories, given the wide range of farmers and manufacturers affected by this move. Beijing may have preferred to postpone imposing fees on major products to a later stage, amid an expected escalation from Washington. According to the figures, Chinas imports of 128 US products annually amount to $3 billion. The Customs Tariff Commission of the State Council imposed the fees, after weeks of exchanged statements which raised fears of a trade war between the worlds two largest economies, the official Xinhua news agency said. Trumps administration said the tariffs on steel and aluminum imports were aimed at protecting the national security of the United States, but Chinas Ministry of Commerce considered it a "violation" of World Trade Organization (WTO) rules. "China advocates and supports a multilateral trade system,” the ministry said. Trump had attacked China on several occasions over the huge trade deficit, and promised during his presidential campaign to take action to reduce it. In March, Beijing warned that it was considering imposing tariffs ranging from 15 to 25 percent on a number of US products. On Sunday, Chinas Ministry of Commerce expressed hope the US government would withdraw the tariffs "as soon as possible so that the trading of products between China and the United States will return to a normal track."

مشاركة :