The
Chinese Ministry of Commerce announced on Tuesday that the country
will retaliate against Trump’s new tariffs with its own 5-10
percent levies on $60 billion of US goods. The tariffs will be kick
in on September 24.
The
announcement came shortly after the US President Donald Trump
revealed additional tariffs on around $200 billion in Chinese goods.
The US tariffs will come into effect on September 24, set at a level
of 10 percent until the end of the year. From January 1, 2019, the
tariffs will be reportedly raised to 25 percent.
“The
US insists on increasing tariffs, which brings new uncertainty to the
consultations between the two sides. It is hoped that the US will
recognize the possible negative consequences of such actions and take
convincing means to correct them in a timely manner,” the
ministry said in a statement.
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