|АКИpress CA-News Tazabek Turmush||ADVERTISE WITH US SUBSCRIBE|
AKIPRESS.COM - China has slapped extra tariffs of up to 25 percent on 128 U.S. products including frozen pork, as well as on wine and certain fruits and nuts, in response to U.S. duties on imports of aluminum and steel, China’s finance ministry said.
The tariffs, to take effect on Monday, were announced late on Sunday and match a list of potential tariffs on up to $3 billion in U.S. goods published by China on March 23, Reuters reported.
China’s Ministry of Commerce said it was suspending its obligations to the World Trade Organization (WTO) to reduce tariffs on 120 U.S. goods, including fruit. The tariffs on those products will be raised by an extra 15 percent.
Eight other products, including pork, will now be subject to additional tariffs of 25 percent, it said, with the measures effective from April 2.
“China’s suspension of its tariff concessions is a legitimate action adopted under WTO rules to safeguard China’s interests,” the Chinese finance ministry said.
China has imposed the additional tariffs amid escalating trade tensions between Beijing and Washington, sparking fears of a full-blown trade spat between the world’s two biggest economies.