Additional tariffs on US products raised to 84 pct
BEIJING – China has taken swift, firm countermeasures following the latest US tariff hike on Chinese imports, in a move to safeguard its legitimate rights and interests.
The central government announced yesterday that it will raise additional tariffs on products imported from the United States to 84 percent, add six US firms to its unreliable entity list, and place 12 US entities on its export control list.
These steps – all in effect from 12:01 p.m. today – came after the government pledged to take countermeasures with “firm will” and “abundant means” following the United States’ decision to raise its so-called reciprocal tariffs on Chinese imports from 34 percent to 84 percent.
China has also filed a case against the United States with the World Trade Organization’s (WTO) dispute settlement mechanism over the latest tariff hike.
The State Council Information Office yesterday released a white paper to clarify the facts about China-US economic and trade relations, and to elaborate on China’s position on relevant issues.
China-US economic and trade relations are mutually beneficial and win-win in nature, and cooperation benefits the two sides while confrontation harms both, the white paper said.
Recently, the United States has launched several rounds of tariff hikes on Chinese imports, and China has responded to these protectionist moves with forceful countermeasures.
“I want to emphasize that there is no winner in a trade war, and that China does not want a trade war. But the Chinese government will by no means sit by when the legitimate rights and interests of its people are being hurt and deprived,” an official of the Ministry of Commerce (MOC) said in a statement yesterday.
The official said that the United States’ use of tariffs as a weapon to exert maximum pressure and pursue its self-interests is a typical act of unilateralism, protectionism and economic bullying.
Under the guise of pursuing “reciprocity” and “fairness,” the United States is engaging in zero-sum games and, in essence, seeking “America First” and “American exceptionalism,” the official said.
China is willing to communicate with the US side on key bilateral economic and trade issues, address their respective concerns through dialogue and consultations on an equal footing, and jointly advance the steady, healthy and sustainable development of China-US economic and trade relations, the official noted.
“If the United States really seeks to resolve the issue through dialogue and negotiation, it should demonstrate an attitude of equality, respect and reciprocity,” foreign ministry spokesperson Lin Jian told a daily news briefing yesterday.
“If the United States is bent on waging a tariff war or trade war, China is ready to fight to the end,” Lin said, noting that China has the capability and confidence to cope with various risks and challenges. – Xinhua
