China will raise the rate of additional tariffs imposed on some of the imported US products
Release time: May 20, 2019
China on Monday announced that it will raise therate of additional tariffs imposed on some of the imported US products fromJune 1. China had earlier imposed additional tariffs on 60 billion dollars’worth of US imports, the rates of additional tariffs on some of the productswill now be increased to 25 percent, 20 percent, and 10 percent, according to astatement by the Customs Tariff Commission of the State Council.
The decision came after the US move to increasetariffs on 200 billion dollars’ worth of Chinese goods from 10 percent to 25percent as of May 10.
The measure taken by the United States escalatedtrade frictions and violated the consensuses reached by both sides to tackletrade disputes through consultations, the statement said. The US move damagedthe interests of the two sides and did not meet universal expectation of theinternational community, it said.
To defend multilateral trade mechanisms andsafeguard its own rights and interests, China had to adjust its additionaltariffs on some of the goods imported from the United States in response to theUS act of unilateralism and trade protectionism, the statement noted.
China hopes that the United States would return to the right track of bilateraleconomic and trade consultations, make joint efforts with China to meet eachother halfway and strive to reach a mutually beneficial and win-win agreementon the basis of mutual respect.