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Chinese and American flags fall near the Bund, before the trade delegation meet with Chinese colleagues for talks in Shanghai, China, July 30, 2019.
Ali song | Reuters
Beijing – China “firmly rejecting” additional US tariffs for Chinese goods and will take opposition measures, The Ministry of Commerce said in a statement on Tuesday.
The responsibilities will “hurt” the US-Kita trade relations, and China calls on the US to withdraw them, the CNBC translated by the Ministry of Chinese said. Beijing had previously warned of countermers but not yet demonstrated.
After the first round of new American tariffs in February, included in Chinese measures in China Increasing duties on certain US energy imports And posting two US companies on the list of unreliable organizations that can limit their ability to run a business in an Asian country.
The White House has confirmed that the new duties of 10% on Chinese goods should take effect on Tuesday, which will lead to the total number of new tariffs imposed by about 20%.
Thus, the average effective tariff tariff tariff for Chinese goods should reach 33%, which is about 13%before US President Donald Trump started his last term in January, according to the Chinese economist Nomura Ting Lu.
On Monday, the world Times, supported by Chinese, was reported, citing a source in Beijing Given the tariffs for retaliation for US agricultural products.
According to Allianz studies, exports of American agricultural products, such as soy to China, is the largest share of US goods exported to China by 1.2%, or $ 22.3 billion, according to the Allianz research analysis.
Oil and gas ranked second by 1%or $ 19.3 billion, research has shown. Pharmaceuticals finished third in 0.8% or 15.6 billion dollars.
China also kicks off the annual parliamentary meeting known as “two sessions” on Tuesday.
Politicians must set on Wednesday to reveal the annual target on the domestic product and Financial incentive plans for the year.
