01 Apr '18, 11pm

China slaps retaliatory tariffs on 128 US imports

BEIJING: China on Monday imposed tariffs on 128 US imports worth US$3 billion, including fruit and pork, retaliating for US duties on steel and aluminium that Beijing said "seriously infringed" Chinese interests. The move, which was decided by the customs tariff commission of the State Council, followed weeks of rhetoric that has raised fears of a trade war between the world's two biggest economies. The Trump administration had said its duties were aimed at steel and aluminium imports that it deemed a threat to US national security, but China's Commerce Ministry on Monday called that reasoning an "abuse" of World Trade Organization (WTO) guidelines. The US measures "are directed only at a few countries, seriously violating the principle of non-discrimination as a cornerstone of the multilateral trading system, which seriously infringed the interests of the Chinese side," s...

Full article: https://www.channelnewsasia.com/news/business/china-slaps...

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