China’s retaliatory tariffs will be effective from September 24, global newswires reported citing a statement posted on the website of China’s finance ministry.
The raise aims at curbing ‘trade friction’ and the ‘unilateralism and protectionism of the United States’ and Beijing is still ready to negotiate with the United States to end trade tensions, the ministry said.
In a parallel move, President Donald Trump threatened more punitive measures against China if it targets politically potent US agricultural products for retaliation.
Appealing both governments for ‘results-oriented negotiations’, the American Chamber of Commerce in China cautioned Washington is underestimating Beijing’s determination to fight back. (DS)
ALCHEMPro News Desk – India
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