China slaps 25% tariffs on US goods

China slaps 25% tariffs on US goods

Beijing : Escalating the trade war with the United States, China on Thursday imposed 25 per cent tariffs on American goods worth USD 16 billion in retaliation to tariffs imposed by Washington.

Earlier today, the US slapped 25 per cent tariffs, which completed the first round of the USD 50 billion targetting Chinese goods.

Quoting South China Morning Post, a statement from China’s Commerce Ministry said that the tariffs imposed by the US violated the rules of the World Trade Organisation (WTO), adding, “China has no other alternatives but to take countermeasures”.

The Chinese Government also chided the US for its decision to slap the latest trade tariffs and threatened to file a legal challenge at the WTO.

On July 6, US President Donald Trump had imposed 25 per cent tariffs on USD 34 billion duties on Chinese imports.

The Trump administration has recently slapped tariffs on various countries, including China, claiming that the US was “being treated unfair in trade”.

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