China Formally Notifies the WTO of Retaliatory Tariffs Against US
China has increased tariffs by up to 25 percent on 128 US products, including pork, nuts and ethanol, in response to US duties on aluminium and steel, a WTO document showed.
National Flags of United States of America (left) and People's Republic of China (right). (File image/ Reuters)
Geneva: China has notified the World Trade Organization it is imposing $611.5 million worth of retaliatory tariffs on $2.75 billion worth of US imports including pork, nuts and ethanol in response to US duties on aluminium and steel, a WTO document showed.
The document, dated last Thursday but posted only after the Easter public holidays, came after China said late on Sunday it has increased tariffs by up to 25 percent on 128 U.S. products, escalating a dispute between the world's biggest economies.
China has fulfilled its legal duty to notify the WTO and other member states of its retaliatory measures.
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.
Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.
Recommended For You
- Ashes 2019: Fried Chicken and Chocolate Bars Fuel Ben Stokes's Fire
- Neetu Kapoor on Rishi Kapoor's Cancer Treatment in New York: 'He Became Like My Child'
- Apple Watch Saved This Woman's Life by Detecting Atrial Fibrillation And Possible Stroke
- PV Sindhu Makes India Proud Again: PM Modi Praises the World Champion
- Metz M55G2 4K Android TV Review: So Good, it Should Cost a Lot More Than Rs 42,990