China reacts to the tariffs imposed by the USA

by Andrea
0 comments

Beijing announced on the morning of Tuesday that he will impose rates on some American imports, including gross oil, agricultural machinery and liquefied natural gas, in retaliation for the imposition of 10% Trump government tariffs on Chinese imports on the US.

The measures, announced by the China Ministry of Finance, charge a 15% rate on certain types of coal and liquefied natural gas, and a 10% tariff over crude oil, agricultural machinery, large cars and pickup trucks. The measures come into force from February 10.

The Ministry of Commerce has also announced a list of new export controls, including tungsten -related materials, usually used in industrial and defense applications, as well as tellurium -related materials, which can be used to manufacture solar cells.

The ministry also said it was adding two American companies – Illumina biotechnology company and PVH Group fashion retailer, owner of Calvin Klein and Tommy Hilfiger – to their list of unusual entities, saying they “violated normal negotiation principles from the market ”.

In a separate statement, China’s state market regulatory administration said it was starting an investigation into Google on suspicion of violation of its anti -monopoly law. The company, whose browser is not available in the country, has minimal operations in Chinese territory.

The announcement comes at the time one announced by the White House last Saturday (1st).

Beijing criticized these rates in a statement made on Sunday (2), and promised registering a complaint with the World Trade Organization and taking “corresponding contracted.”

In a statement on Tuesday, the China Ministry of Commerce confirmed that it had taken Trump’s tariff measures to the WTO controversy mechanism.

“US practice seriously undermines the rules -based multilateral trade system, impairs the foundation of economic and commercial cooperation between China and the United States and interrupts the stability of the global industrial chain and the supply chain,” the ministry said.

*Update

source

You may also like

Our Company

News USA and Northern BC: current events, analysis, and key topics of the day. Stay informed about the most important news and events in the region

Latest News

@2024 – All Right Reserved LNG in Northern BC