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China Slaps Dollar-for-Dollar Counter Tariffs After Trump Pulls Trade War Trigger

China will reportedly levy tariffs on 545 items worth $34 billion in response to US tariffs.

Agencies

Updated:July 6, 2018, 12:15 PM IST
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China Slaps Dollar-for-Dollar Counter Tariffs After Trump Pulls Trade War Trigger
File photo of Chinese President Xi Jinping (Image: REUTERSl)
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Beijing: China has implemented additional tariffs on some import products from the United States immediately after new US tariffs took effect on Friday, the official English language China Daily newspaper reported.

The paper, citing China's customs authority, said China will levy tariffs on 545 items worth $34 billion in response to US tariffs.

China said it was "forced to take necessary countermeasures" after Washington launched what Beijing called "the largest trade war in economic history," imposing tariffs on billions of dollars in Chinese imports.

"China promised not to fire the first shot, but in order to defend the core interests of the country and the interests of the people, we are forced to take the necessary countermeasures," China's commerce ministry said in a statement.

China accused the US of launching the "largest trade war in economic history," saying it was "typical trade bullying" that could trigger "global market turmoil".

Besides going to the WTO, China also said it would work with other countries to promote free trade, as Trump engages in battles with historical trading partners around the world.

But despite the rhetoric, Friday's tariffs could be the opening skirmishes in the war, as Trump has vowed to impose duties on as much as $450 billion in Chinese goods, the vast majority of imports.
| Edited by: Nitya Thirumalai
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