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China may hike tariffs on US pork

China plans to impose tariffs on up to products from the United States to make up for losses caused by US tariffs on Chinese steel and aluminum products. For pork, a 25 percent tariff is proposed.

Monday 26 March 2018 (5 months 25 days ago)
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China's Ministry of Commerce unveiled plans Friday to impose tariffs on up to $3 billion worth of products from the United States to make up for losses caused by US tariffs on Chinese steel and aluminum products.

The list tentatively contains seven categories and 128 products.

The first part covers a total of 120 taxes, involving $977 million in US exports to China, including fresh fruit, dried fruit, nut products, wine, modified ethanol, American ginseng and seamless steel pipes, and is expected to impose a 15 percent tariff.

The second part covers a total of eight taxes covering $1.99 billion of US exports to China, including pork and pork products and recycled aluminum. For these items, a 25 percent tariff is proposed.

If China and the United States fail to reach a trade compensation agreement within the stipulated time, China will exercise the right to suspend concessions for the first list of products; China will implement the second list after further evaluating the impact of US measures on China.

Friday March 23, 2018/ Chinadaily/ China.
http://europe.chinadaily.com.cn

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