Beijing has announced its own duties and has imposed export restrictions on key minerals
China has announced new tariffs and trade restrictions, following a similar move by the administration of US President Donald Trump, which views competition against China as a key foreign policy point.
Last week, Trump ordered additional 10% tariffs on all goods from China, saying he is using his emergency authority to fight a national emergency caused by drug trafficking and illegal immigration. In the same executive action, the president targeted Canada and Mexico. Both US neighbors have since offered concessions on border security to deflate the growing trade conflict.
The Chinese government responded minutes after the new tariffs came into force on Tuesday. It included restrictions on certain American goods – a 15% tariff on coal and liquefied natural gas, and a 10% tariff on crude oil, agricultural machinery, and some vehicles.
Announcing its policy change, the Chinese Finance Ministry condemned Trump’s decision, saying it “seriously violates the rules of the World Trade Organization (WTO)” and “undermines the normal economic and trade cooperation between China and the US.” Meanwhile, the Commerce Ministry announced that China has filed a complaint over the US tariffs with the WTO.
READ MORE: EU’s top diplomat warns against trade war
Beijing has also introduced a licensing regime for exports of products containing tungsten, tellurium, bismuth, molybdenum, and indium. The measure will “safeguard national security and interests” the Commerce Ministry said, without specifically mentioning the US. The minerals are essential for advanced manufacturing.
Hence then, the article about china retaliates against trump tariffs was published today ( ) and is available on Russia Today ( News ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( China retaliates against Trump tariffs )
Also on site :
- Greg Evigan Shares Sweet ‘My Two Dads’ Throwback With Paul Reiser and Staci Keanan: ‘I Adore These 2 People!’
- Carole King Wrote ‘Will You Love Me Tomorrow’ at 18 and It Became the First No. 1 Song by Any Girl Group; She Sang It 11 Years Later on Tapestry
- Aaron Sorkin Says Jeremy Strong Treated His Co-Stars ‘The Way He Imagines’ Mark Zuckerberg Treats People While Shooting ‘The Social Reckoning’