Friday, July 6, 2018

US Imposes Latest Tariffs on Chinese Imports, Beijing Says 'Forced' to Retaliate

US Imposes Latest Tariffs on Chinese Imports
Amid concerns of the international businesses and investors, US Tariffs on Chinese import goods took effect on Friday at 04:00 GMT...

Beijing, in turn, said on Friday it was "forced to take necessary countermeasures," after Washington imposed tariffs on billions of dollars of Chinese goods.

"China Promised not to fight the first shot, but in order to defend the core interests of the country and the inetersts of the people, we are forced to take necessary countermeasures,' China's Commerce Ministry was quoted by AFP in a statement.

However, China's Commerce Ministry did not reportedly clearify what those countermeasures would entail, though the ministry had previously vowed to hit back with new border taxes on an equal amount of US goods. The chinese authorities emphasized they would inform the World Trade Organization of this situation and work together with other countries to defend free trade.

"The United States violated the WTO rules and launched the largest trade war in economic history to date," China's Commerce Ministry's statement was quoted by AFP. "This type of tariff levying is typical trade bullying, and seriously jeopardises the security of the global industrial chain and value chain, hindering the pace of global economic recovery and triggering global market turmoil," the statement stressed.

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