The US government announced to impose additional tariffs of 25% on US$50 billion worth of the Chinese imports according to the unilateral recognized results of section 301 investigation on June 15, 2018. Among these, the additional tariff on US$34 billion worth of Chinese imports will come into effect from July 6, and measures against the rest of US$16 billion worth of Chinese imports will further solicit public opinions.
China decided to impose a tariff rate of 25% on the US imports like farm products, auto and aquatic products according to the Foreign Trade Law of the People’s Republic of China and the basic principles of International Law, involving US$34 billion worth of US imports in 2017. Those measures will come into force from July 6 2018.
China implemented a 25 percent duty on most U.S. pork items on April 2, and a 15 percent tariff on a range of fruits and nuts, in response to U.S. tariffs on Chinese steel and aluminum products. Last week it included both categories in a second round of tariffs to be imposed on July 6. Pork now faces cumulative import duties of 71 percent, not including value added tax, according to a formula published on the website of China’s finance ministry last week.
Sunday June 17, 2018/ Ministry of Commerce/ China.
Thursdau June 21, 2018/ Reuters.