China has suspended tariff concessions on 128 imports from the United States including pork and fruits starting Monday, the Ministry of Finance announced Sunday.
CGTN’s Toby Muse reports.
The Customs Tariff Commission of the State Council will now impose a tariff of 15 percent on 120 products imported from the United States, as well as a tariff of 25 percent on eight U.S. imports including pork, according to a statement from the ministry’s website.
The statement said it was a countermeasure in response to the March 8th move by U.S. President Donald Trump to levy U.S. tariffs on steel and aluminum imports from China. As of March 23rd, the United States is imposing a 25-percent tariff on steel imports, and a 10-percent tariff on aluminum.
The ministry said in its statement that this action violated World Trade Organization rules, and caused serious damage to China’s interests.
China’s new tariffs are meant to balance the losses caused by the U.S. actions, the statement said.
The statement said China advocates and supports a multilateral trade system and that it’s suspension of tariff concessions are meant to safeguard China’s interests using WTO rules.
Story compiled with information from Xinhua.
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