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Trade war between US, China formally kicks off after US tariffs go into effect
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A trade war between the United States and China, the world’s two biggest economies, has officially begun on Friday after the Trump administration imposed a 25 percent tariff on $34 billion worth of Chinese imports. The punitive tariffs went into effect from 12:01 am, according to a New York Times report.

Chinese officials had made it clear on multiple occasions that once the US implemented the tariffs, they would be forced to retaliate. Xinhua Agency reported China had begun to impose a 25 percent tariff on $34 billion worth of American imports from 12:01 am Beijing time. At a press meeting on Thursday, an official with China’s General Administration of Customs indicated that based on a statement issued by the State Council, the planned imposition on American goods will go into effect immediately after the US imposed the tariffs.

It’s widely reported previously that China promised to impose taxes on equal amount of American exports, including soybeans and automobiles.

China’s Ministry of Commerce (MOFCOM) briefed the media on Friday regarding the latest US move to wage the trade war. Gao Feng, the spokesman of MOFCOM, said the US has waged the biggest-ever trade war in the economic history, which will severely sabotage the global industry chain and hinder the steps of global economic recovery. Gao noted more multinationals and consumers will be affected, while (the trade war) will also harm the interests of American enterprises and people.

A day earlier, Gao emphasized at a regular press meeting that well over half of the goods subject to tariffs were made by foreign companies operating in China.

“Among the so-called $34 billion worth of Chinese goods, over $20 billion of them are actually products made by foreign-owned companies in China. And goods produced by American companies now operating in China occupies a large proportion of that. The United States is in effect imposing new tariffs on both China and global businesses,” Gao said, adding that these actions were actually “striking a blow” to the global industry chain and value chain.
 
 
 

 


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