US additional duties China
US plans to introduce additional duties on goods from China
MOSCOW – The United States plans to impose additional duties on goods from China for another USD300 billion, Kommersant reports.
At the same time, from May 10, the United States increased the tariffs for the import of a number of Chinese goods from 10% to 25%. US President Donald Trump earlier warned China against imposing retaliatory duties. According to Trump, if Beijing responds, the situation will only get worse. US additional duties China
Earlier it became known that China, from June 1, introduces import duties on exports from the United States to various groups of goods in the amount of USD60 billion. Their size will vary from 5% to 25%. According to the Ministry of Finance of China, the introduction of duties by the United States “led to an escalation of China-US economic and trade relations, contrary to the consensus between China and the United States to resolve trade disputes.” Thus, the interests of both parties were put at risk and not meeting the general expectations of the international community, according to the Ministry of Finance of China. US additional duties China
The trade war between the two countries began in the summer of 2018. Washington and Beijing imposed duties on each other, the losses from which on each side were estimated at USD34 billion. In December, at the G-20 summit in Buenos Aires, the United States and China managed to agree on a “truce of commerce” that expired in March.US additional duties China
Author: Anna Larionova