Corrected: China hikes tariffs on $60bn of US goods from June
Fanny Zhang
13-May-2019
Correction: In the ICIS story headlined “China hikes tariffs on $60bn of US goods from June” dated 13 May 2019, please read in the third paragraph … China’s tariffs on the products will rise to 5%-25% … instead of … 5%-20% … A corrected story follows.
SINGAPORE (ICIS)–China will raise tariffs on $60bn-worth of US imports from 1 June as countermeasure against the recent US duties hike on Chinese goods, the Ministry of Finance said on Monday.
The US on 10 May increased tariffs on $200bn of Chinese imports to 25% from 10%, and Beijing had promised to retaliate.
China’s tariffs on the products will rise to 5%-25% from the current rates of 5%-10%,with the list including hundreds of chemical items.
The Ministry said that Washington’s tariff increase escalated trade frictions and is against the consensus made between the two sides on resolving disputes through consultations.
Click here to see the list of chemicals-based products included in the latest tariff hikes.
Click here to view related stories and content on the US-China trade war topic page
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