China Strikes Back And Increases Import Tariffs On American Products
China Strikes back and increases Import tariffs on American Products. China plans to charge import tariffs on US 60 billion dollars (over 53.4 billion dollars) in US imports from 1 June.
The measure is a retaliatory action for import tariffs on Chinese products that the Americans imported last week.
In total, the rates of 5,140 American products will be increased.
The trade conflict between China and the United States has flared up again in recent weeks.
Last Friday, the US increased import rates to 200 billion dollars of Chinese goods from 10 percent to 25 percent.
Trump states he wants to levy a rate of 25 percent on the other 350 billion dollars value of imports.
The retaliatory action of the Chinese is not a surprise.
Earlier on Monday, a Chinese Foreign Ministry spokesperson said the country “will not succumb to external pressure.”