China announced new additional tariffs on products imported from the United States in response to tariffs adopted by Washington, a further return to escalating tensions between the world‘s major economies.
The Asian giant will apply an additional tariff of 15 percent on products such as chicken, wheat, corn and cotton from the North American country as of next 10.
In addition, a 10 percent levy will be imposed on other goods, including sorghum, soybeans, pork, beef, fishery products, fruits, vegetables, and dairy.
According to the announcement, these measures seek to counteract the negative effects of U.S. trade policies on the multilateral system and bilateral economic relations.
The State Council stressed that the decision responds to the unilateral increase as of today of 10 percent in tariffs on all Chinese products, justified by Washington under the pretext of fentanyl.
Chinese officials said such actions damage the foundation of economic cooperation between the two countries and increase the burden on U.S. businesses and consumers.
The investigation, requested by the national industry, will assess whether existing measures have been violated and determine whether new restrictions need to be applied, the statement said.
China today warned the United States about its willingness to take countermeasures to confront Washington’s tariff policy “to the end.”
Foreign Ministry spokesman Lin Jian made the remarks when referring to the new 10 percent tariffs on all Chinese products.
“If the United States has other intentions and insists on waging a tariff war, a trade war or any other war, China will accompany it to the end,” he stressed.
The spokesperson again denounced the fentanyl excuse used by that nation to apply tariffs and undermine bilateral trade.
“I want to reiterate that the Chinese people have never been afraid of evil and do not believe in ghosts, and have never eaten that game of hegemony and intimidation, and that pressure, coercion and threats are not the right way to deal with the Chinese side, and that exerting extreme pressure on China is to seek the wrong goal and play the wrong game,” Said.
With information from Prensa Latina / Translated by Radio Angulo
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