US adds new tariffs for more Chinese products
Trump administration has decided to extend the list of Chinese products that are subject to trade tariffs to 6,031 product lines, reports Nikkei Asia portal.
Total Chinese imports subject to new tariffs will reach up to $250 billion, equal to around half of China's exports to the U.S. in 2017. The list includes frozen pork, live carp, Pacific salmon, yellowfin tuna, crabmeat, and lobsters, all of those proposed to be taxed with 10%.
President Donald Trump announced that he does not exclude the idea to impose additional tariffs on $500 billion in Chinese goods.
The new list will be finalized after a roughly two-month comment period. Four days of public hearings will begin on Aug. 20. The administration said the moves are being made under Section 301 of the Trade Act of 1974, which grants the power to take all appropriate action against actions by foreign governments that are unfair or violate international trade agreements.
Countermeasures have been taken by China on different agricultural goods, including US pork and beef. At this point, US pork products sent to China have a tariff of 62%.
"The Chinese side is shocked by the actions of the US. China has to make the necessary countermeasures", said a statement of China's Ministry of Commerce. Beijing officials have also announced their intention to file another complaint with the World Trade Organization.
"We call on the international community to work together to safeguard the rules of free trade and the multilateral trading system, and jointly oppose trade hegemonism", is specified in the statement.
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