U.S. to list tariffs on another US$200 billion of Chinese products

Lloyd Doyle
July 11, 2018

On Friday, Beijing retaliated with mirror measures against U.S. imports hours after Washington introduced 25 percent trade tariffs on $34 billion worth of Chinese goods.

The country's ministry of commerce has told companies to boost imports of goods including soybeans from countries other than the U.S.

Beijing has called on Chinese firms to substitute American imports with those from other countries in response to United States trade tariffs.

The USDA didn't immediately reply to an email seeking comment on the shipment.

The Trump administration's 25 percent tariffs on medical equipment, electronics and other goods from China apply to exports made by USA or European companies as well as Chinese suppliers.

However, the absence of an official confirmation earlier Friday afternoon had caused confusion in the markets, leaving customs at major ports in limbo.

Later that day, China's foreign ministry spokesperson announced that China has begun implementing new tariffs of 25 percent on some US goods including automobiles and soybeans.

Many others in the US are already feeling the effects of the tariffs.

Trump has levied steep tariffs on key US allies, including the European Union, Canada, and Mexico, citing unfair trade practices and national security issues as the need for the hikes.

It is unclear whether the soybean cargo, which did not arrive until after the penalties took effect, will pay the 25 percent higher tariff.

Other reports by Iphone Fresh

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