In response to US President Donald Trump's recent decision to impose 10% tariffs on imports from China, which came into effect on Tuesday, China has announced the imposition of its own tariffs. According to an announcement by the Customs Tariff Commission of the State Council, a 15% tariff will be applied to US coal and liquefied natural gas (LNG), while a 10% tariff will be imposed on crude oil, agricultural machinery, large volume vehicles and pickup trucks, effective February 10.
At the same time, China added two U.S. firms, PVH Corp. and Illumina, Inc., to its list of unreliable entities. According to the Commerce Department, these firms have violated normal business principles, terminated standard business with Chinese companies, and imposed discriminatory measures against Chinese firms, seriously harming their legitimate rights and interests.
The Chinese Ministry of Commerce has stressed that the unilateral imposition of tariffs by the US seriously violates World Trade Organisation (WTO) rules. These measures are ineffective in solving America's economic problems and disrupt normal trade and economic cooperation between China and the United States. China has filed a complaint with the WTO to protect its legitimate rights and interests.
The ministry further stressed that China is a staunch supporter and major contributor to the multilateral trading system and is ready to work with other WTO members to address the challenges that unilateralism and protectionism pose to the multilateral trading system and to safeguard the orderly and stable development of international trade.
CMG
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