Friday, July 06, 2018

China Imposes Retaliatory Duties on 800 Goods from US

China Imposes Retaliatory Duties
The Chinese authorities have imposed 25% duties on imports from the United States worth about $34 bln a year, according to a statement by the Main Customs Administration of the People's Republic of China.

According to the US Customs and Border Service, the United States on July 6 at 00:01 local time, introduced the first installment of 25% import duties for 818 items of Chinese goods for the total amount of $34 bln.

 As a countermeasure, China simultaneously introduced 25% duties on goods worth a similar amount, Xinhua agency reported referring to the statement.

The initiative of US President Donald Trump to impose 25% duties on imports from China, the total value of which is estimated at $34 bln, came into force on Friday.

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