China has hit back after President Donald Trump’s announcement he would impose 25 per cent tariffs on $50 billion worth of Chinese imports, and leveled the same amount of tariffs back at the US
China will impose additional 25 percent tariffs on 659 US goods worth $50 billion in response to the US’ plan to levy tariffs on Chinese imports.
The Chinese commerce ministry announced tariffs on $34 billion of US goods including agricultural products like soybeans, which will take effect from July 6. Soybeans are China’s biggest import from the United States by value.
The tariffs will also be applied to autos and aquatic products.
US President Donald Trump announced 25 percent tariffs on $50 billion of Chinese imports on Friday, in a move that looks set to ignite a trade war between the world’s two largest economies.
Trump said the tariffs would be imposed on a list of strategically important imports from China. He also vowed further measures if Beijing struck back.
Electric cars will be one of 659 products to face tariffs in China (pictured is a CT6 Cadillac at the Consumer Electronics Show Asia 2018 in Shanghai in June)
The list of 659 US goods to face tariffs in China was longer than a preliminary list of 106 goods published by the commerce ministry in April, although the value of products affected remained unchanged at $50 billion.
Aircraft, included in the earlier Chinese list, were not on the revised list.
The effective date of the tariffs on the remaining $16 billion of U.S. goods will be announced later, according to the commerce ministry.
Affected US products will include crude oil, natural gas, coal and some refined oil products.
‘The U.S. has ignored China’s resolute opposition and solemn representation, and has insisted on adopting behaviors that violate WTO rules,’ China’s commerce ministry said.
‘This is a violation of the legitimate rights and interests that China is entitled to according to WTO rules, and is a threat to China’s economic interest and security.’
A 25 per cent tariff will also be imposed on soybeans (pictured), China’s biggest import from the United States by value