Connect with us

Americas

US – China Trade War Gets Nasty, Beijing to Raise Duties on US$60 Billion of US Good

Published

on

The US-China trade war has taken a nasty turn with Beijing expected to raise duties on US$60 billion of American goods on June 1. The Chinese Ministry of Finance said tariffs on thousands of US products will rise to as high as 25 per cent, from the original 10 per cent. Last Friday, the US hiked tariffs on $200 billion worth of Chinese imports to 25 per cent from 10 per cent as China vowed to take ‘necessary countermeasures’.

Indian Army Requested Pakistan To Stop Artillery Guns in Cross Border Exchange: Pak Media

Moreover, China’s foreign ministry spokesman Geng Shuang said Beijing will not bow to outside pressure with the renewal of US tariffs on Chinese imports. “We have many times said that increasing tariffs will not solve any problems. China will never surrender to foreign pressure.” Shuang also said that he hoped China would meet the US and resolve Beijing’s reasonable concerns on the basis of mutual respect and equality.

A wide range of food products including cooking oils, frozen vegetables, wine, beer and other beverages, industrial minerals and chemicals, textiles and clothing, jewellery, metal products, machinery parts and consumer items have taken the hit. China’s Finance Ministry has accused the raised US tariffs of ‘leading to the escalation of trade frictions between China and the US’.

Shuang said the retaliatory tariffs on US$60 billion US products will be imposed at four different levels – 25 per cent tariffs on 2,493 items of goods, 20 per cent on 1,078 items, 10 per cent on 974 items and five per cent on 595 items.

This decision comes days after a Chinese delegation led by Vice-President Liu failed to reach a deal with the US counterparts in Washington to end the months-long trade war. An official statement by Beijing said that “China hopes the United States will return to the right track of bilateral trade negotiations, work together with China and meet China halfway to reach a mutually beneficial and win-win agreement on the basis of mutual respect and equality.”

Advertisement
Advertisement

Facebook

FEATURED

China-aerial-space-Indian-Drone China-aerial-space-Indian-Drone
Americas6 hours ago

US Demonstrates Technology To Launch A ‘Drone From A Drone’ & Recover It Back Mid-Air

General Atomics, the American defence giant has stated that it has carried out captive carry tests of its new air-launched...

ARMY-INDIA ARMY-INDIA
Featured7 hours ago

After Ladakh, Why Gilgit-Baltistan Could Be Next Big Flash Point Between India And China?

In a bid to gain further control on the disputed Gilgit-Baltistan region, Islamabad has decided to upgrade its status as...

sharif-modi-meeting sharif-modi-meeting
Featured9 hours ago

Nawaz Sharif’s Speech Against Pakistan Army Widely Celebrated In India – Imran Khan

Pakistan PM Imran Khan denounced former PM Nawaz Sharif and stated that the opposition has only one agenda i.e. how...

INDIAN-ARMY INDIAN-ARMY
Asia Pacific20 hours ago

Indian Army Has Deployed Additional 100,000 Troops Near The LAC – Top Chinese General

Despite the sixth round of Corps Commander level meeting between India and China which failed to provide any significant breakthrough,...

F18-India-Deal F18-India-Deal
Featured20 hours ago

NATO Commitment Forces Germany To Acquire F-18 Super Hornets & Reduce Number Of Typhoons

German President Frank-Walter Steinmeier is looking to procure the new Eurofighter Typhoons and F-18 Super Hornets to bridge the gap...

INDIA-CHINA INDIA-CHINA
Expert Reviews22 hours ago

‘Hot Winters’ Ahead – China Says PLA Needs To Teach A Harsh Lesson To ‘Insincere’ India – OPED

The portents of war between China and India seem to be getting more and more darker by every passing day....

SAAB-GRIPEN SAAB-GRIPEN
Featured1 day ago

SAAB Delivers Gripen-E Jets To Brazil; Offers ‘Exceptional Deal’ To The Indian Air Force

With India’s new FDI model under the new indigenization drive, SAAB has seen it as a lucrative offer and is...

F-35-INDIA F-35-INDIA
Europe1 day ago

After Rafale Jets, This Air Force Wants Stealth F-35s That Was Once Meant For Turkey?

While some recent reports indicated that with the arrival of F-35s, UAE cold shed some of its F-16s and sell...

j20-vs-tejas j20-vs-tejas
Asia Pacific1 day ago

Taiwanese Expert Says ‘Bathrooms Best Place To Hide’ During Chinese Air Raids, Missile Attack

As tensions between China and Taiwan are only increasing day by day, former Ministry of Defense advisor Sung Chao-wen on...

SU-30-MKI SU-30-MKI
Featured1 day ago

Indian SU-30 MKI Jets Loaded With BrahMos Missiles Practice Hitting Chinese Assets Far Away From Ladakh

Soaring tensions between India and China in Ladakh has seen both the sides deploying thousands of troops, heavy artillery and...

Advertisement