03:12 GMT +323 September 2018
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    US President Donald Trump and Chinese President Xi Jinping attend a business leaders meeting at the Great Hall of the People in Beijing. (File)

    China Responds to US Trade Barriers With 15-25% Tariffs' Boost on American Goods

    © AFP 2018 / JIM WATSON
    Asia & Pacific
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    China suspends tariff reduction obligations on 128 imported products originating from the United States and is imposing additional tariffs on the basis of the current applicable tariff rates.

    "In order to protect China's interests and balance the losses caused by the United States’ imposed tariffs (i.e. 232 measures) on imported steel and aluminum products to China's interests, the Customs Tariff Commission of the State Council has decided to suspend duty concessions on certain imported products originating in the United States," the State Council Customs Tariff Commission said.

    To suspend tariff reduction obligations on 120 imported products such as fruits and other products originating in the United States, China has imposed additional tariffs on the basis of the current applied tariff rates and has imposed a tariff rate of 15%, according to the State Council statement.

    READ MORE: China Warns US of 'Serious Consequences and Negative Impact' of Trade War

    Eight imported goods such as pork and products originating in the United States shall be subject to tariff reduction obligations. Tariffs shall be imposed on the basis of the current applied tariff rates, and the tariff rate shall be increased by 25%.

    The current policy of taxation, tax relief, and tax exemption remains unchanged.

    READ MORE: China Warns US Against Opening 'Pandora's Box'​

    On March 8, 2018, US President Trump signed an announcement confirming that imported steel and aluminum products threatened US national security and decided to impose tariffs (i.e. 232 measures) on imported steel and aluminum products beginning from March 23.

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    import tariffs, new, trade war, tariffs, China's State Council, China, United States
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