China Begins Retaliatory Tariffs On U.S. Goods

 China’s Foreign Ministry on Friday said Beijing has begun implementing tariffs on some U.S. goods in retaliation for U.S. duties on $34 billion in Chinese imports, which took effect the same day.

China’s Commerce Ministry said that it was forced to hit back, meaning $34 billion worth of imported U.S. goods, including autos and agricultural products, also faced 25 per cent tariffs.

However, the Chinese Government had stopped short of actually saying it had implemented tariffs, stirring market confusion.

“China always opposes trade protectionism and unilateral pressure will be futile,’’ Foreign Ministry spokesman, Lu Kang, told a daily news briefing in Beijing.

Lu said that after the U.S. unfairly raised tariffs against China, China immediately put into effect raised tariffs on some U.S. goods.

He reiterated earlier government statements that Beijing would fight back when its interests were threatened.

Lu did not provide further details on the implementation of the duties.

Asked when Chinese President Xi Jinping had last spoken with U.S. President Donald Trump, Lu said China and the U.S. had consistently maintained communications on key issues.

“On the specifics of the trade issue, from the start, China’s position has been very clear and consistent.

“The United States at all levels is very clear on China’s position,’’ Lu said.

However, some Chinese ports had delayed clearing goods from the U.S.

A media report said that it did not appear to be any direct instructions to hold up cargoes, but some customs departments were waiting for official guidance on imposing added tariffs.

Hours before Washington’s deadline for the tariffs to take effect, Trump upped the ante, warning that the U.S. may ultimately target over $500 billion worth of Chinese goods. 

 

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