UNITED STATES, WASHINGTON (OBSERVATORY) — US authorities have officially confirmed that customs duties on a number of goods exported from China to the United States will be increased from 10% to 15%.
The corresponding notice was published on Wednesday, August 28, at Robert Lighthizer trade negotiations.
The decision takes effect on September 1. New duties will affect imports from China totaling $ 300 billion.
In addition, by decision of US President Donald Trump, from October 1, goods and products from China with a total value of $ 250 billion will be taxed not 25%, but 30%.
In turn, the Chinese Foreign Ministry said that in the event of an additional increase in Washington’s duties on Chinese goods, Beijing will take retaliatory measures .
The trade confrontation between China and the United States lasts from July 2018. Then Washington introduced 25% duties on imports of 818 types of Chinese goods with a total volume of $ 34 billion per year, in turn, Beijing took mirror measures.
In May, Washington again raised duties of $ 200 billion, due to the fact that China allegedly does not fully comply with certain agreements. In response to this, Beijing on June 1 raised duties on the import of goods from the United States with an annual supply of $ 60 billion.
According to Trump, the introduction of duties will continue until the parties conclude a “profitable for all” transaction.
—
Online:
This article is written and prepared by our foreign editors writing for OBSERVATORY NEWS from different countries around the world – material edited and published by OBSERVATORY staff in our newsroom.
Our Standards, Terms of Use: Standard Terms And Conditions.
OBSERVATORY NEWS — Breaking news source, real-time coverage of the world’s events, life, politics, business, finance, economy, markets, war and conflict zones.
Contact us: [email protected]
Stay connected with News Observatory and Observatory Newsroom, also with our online services and never lost the breaking news stories happening around the world.
—
Support The OBSERVATORY from as little as $1 – it only takes a minute. Thank you.
We are NEWS OBSERVATORY — the only funding and support we get from people – we are categorically not funded by any political party, any government somewhere or from any grouping that supports certain interests – the only support that makes OBSERVATORY possible came from you.