China to impose 25pc additional duty on US imports from Aug 23


BEIJING: China is imposing additional duty of 25 percent from August 23 on $16 billion worth imports from the US including fuel, steel, autos, medical equipment etc.

China has decided to impose the duty on the same day when the US is planning to start collecting 25 percent extra duty on $16 billion from Chinese goods.

The US finalized its list of goods Tuesday on which additional duty would be imposed.
China’s final list announced on Wednesday that is different from an earlier draft it published in June, which included crude oil. The tariff line has increased to 333 from original draft of 114 tariff lines.

The US action that prompted the Chinese retaliation was the latest by President Donald Trump to put pressure on China to negotiate trade concessions, after Washington imposed tariffs on $34 billion in goods last month. China has vowed to retaliate with equivalent tariffs against any U.S. action, said a foreign news agency.

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