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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.
In justifying stiff tariffs levied upon Chinese imports, President Trump and his advisors cite a "$375 billion" trade deficit with the country. But, how these tariffs could affect the economic health of the U.S. involves a lot more than a single number.
China has pushed through an earlier plan to impose tariffs estimated worth 3 billion US dollars on US goods as compensation for the Trump administration’s duties on imported steel and aluminum, while continuing efforts to discuss cooperation with the world’s largest economy.
The US government's latest tariff plan on imports from China contradicts its commitments that such a decision be based only on the World Trade Organization (WTO)'s Dispute Settlement Body (DSB), said Zhang Xiangchen, Chinese ambassador to the WTO, on Monday during a meeting in Geneva, Switzerland.