The statement said it was a countermeasure in response to a previous US move to slap tariffs on steel and aluminum imports
China suspended tariff concessions on 128 items of US products including pork and fruits starting on Monday, according to the Ministry of Finance. The Customs Tariff Commission of the State Council has decided to impose a tariff of 15 per cent on 120 items of products imported from the US including fruits and related products, and a tariff of 25 per cent on eight items of imports including pork and related products from the country, according to a statement posted on the ministry website, Xinhua reported.
ADVERTISEMENT
The statement said it was a countermeasure in response to a previous US move to slap tariffs on steel and aluminum imports. Despite worldwide objections, the US administration decided to impose a 25-per cent tariff on steel imports and a 10-percent tariff on aluminum, with tariffs on imports from countries including China.
Although in violation of WTO rules, the US measure went into effect in March 23, which has severely undermined China's interests, according to the statement. China advocates and supports a multilateral trade system, the ministry said, noting that to suspend tariff concession on US imports is a just move to safeguard China's interests using WTO rules.
Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
