China vows to implement ‘necessary countermeasures’ in response to Donald Trump’s US tariff increase
- Increase from 10 per cent to 25 per cent on US$200 billion of Chinese goods was threatened by the US president in a tweet on Sunday
- Vice-Premier Liu He is in Washington for the 11th round of talks, but left a meeting with US Trade Representative Robert Lighthizer after less than 90 minutes
China almost instantly vowed to implement the “necessary countermeasures” in response to the United States’ decision to increase tariffs on US$200 billion of Chinese goods to 25 per cent on Friday, reiterating its tough stance in the trade war.
“China deeply regrets that the US has decided to increase the tariffs from 10 per cent to 25 per cent on US$200 billion worth of China goods exported to the United States,” the Ministry of Commerce said in a statement released minutes after the new US tariff level came into effect.
“We’ll have no choice but to take the necessary countermeasures.”
The statement did not specify what steps would be implemented after the US followed through with the threat issued by US President Donald Trump earlier this week.
“We hope to solve the existing problems through cooperation and negotiations with mutual efforts from both sides,” the short statement added.
The move, in accordance with a document registered by the Office of the United States Trade Representative (USTR), marks a serious escalation in the US-China trade war and stands to have far-reaching economic impact on exporters and importers from both countries.
“The increase in additional import duties for Chinese goods covered by the September 21, 2018, Federal Register notice, as amended, is now effective on May 10, 2019. Effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12.01am eastern standard time on May 10, 2019, and exported to the United States on or after May 10, 2019, the rate of additional duties on imported articles classified in a subheading covered by the September 21, 2018 Federal Register notice, as amended, will be 25 per cent ad valorem,” read a notice filed on the website of the Cargo Systems Messaging Service, operated by US Customs and Border Protection.