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China plans additional tariffs on $50 billion products

Updated: Apr 4,2018 4:59 PM     Xinhua

BEIJING — China on April 4 unveiled a list of products worth $50 billion imported from the United States that will be subject to higher tariffs, including soy bean, automobiles and chemical products.

The Customs Tariff Commission of the State Council has decided to impose additional tariff of 25 percent on 106 items of products under 14 categories, the Ministry of Finance (MOF) said in a statement on its website.

The move was taken after the US administration announced a proposed list of products subject to additional tariffs, which covers Chinese exports worth $50 billion with a suggested tariff rate of 25 percent.

The date of implementation will depend on when the US government imposes the tariffs on Chinese products, the MOF said.

The Ministry of Commerce (MOC) said in a statement that the US move was “an evident violation of relevant rules of the World Trade Organization (WTO).”

The US move “severely infringed on the legitimate rights and interests that China enjoys in accordance with the WTO rules, and threatened China’s economic interests and security,” the MOC said.