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China will implement duties on $34 billion worth of goods imported from the US from July 6, Reuters reported, citing its sources in Beijing.
“Our measures are equal and being equal means that if the US starts on July 6, we start on July 6,” the source told Reuters on the condition of anonymity, adding that “the implementation time for all policies starts at midnight.”
China’s decision comes in the wake of the US pledge to introduce import tariffs on $34 billion of Chinese goods on July 6. Although China’s move is due to be reciprocal, Beijing will be ahead of the US announcement because of the 12-hour time difference.
On June 15, Washington revealed that it would introduce additional 25 percent duties on 818 items of Chinese imports worth $34 billion on July 6. In response, China’s State Council’s commission on tariffs and customs vowed to retaliate imposing tariffs on American agriculture products and automobiles.
Beijing and Washington has been involved in a major trade row, with the US slamming China for “unfair trade practices” used to the detriment of Washington.
Sourse: sputniknews.com
