China announced his intention to take decisive response measures in the case of the introduction of additional 50 percent duties, which was previously threatened by US President Donald Trump.
The statement of the China Ministry of Commerce emphasizes that Beijing opens against increasing customs duties by Washington and intends to counteract any actions aimed at further tightening trade restrictions.
Insisting on its erroneous policy of tariff threats, the United States again demonstrates a tendency to force and pressure, the department noted.
“If the United States continues to move in this direction, China will fully answer with decisive and tough response measures,” the report said.
The statement of the People’s Bank of China emphasizes that if necessary, additional support in the form of refinancing will be provided in order to ensure stability in the capital market.
In addition, the subsidiary of the Sovereign Investment Fund of China – the Atral Huijin stock company – said that, like the day before, she would continue to buy shares on Chinese stock exchanges to contribute to prices stabilization.
After Donald Trump’s statement on the introduction of mutual duties, the stock markets in China showed a decrease, following the fall of the Asian exchanges.
China’s response was followed by a statement by US President Donald Trump on the introduction of additional duties on Chinese goods as part of the “mutual duties” policy.
On the second of April, US President Donald Trump announced the introduction of a new import duties. The base rate on all goods imported into the country will be 10 percent. At the same time, duties will vary depending on the country, taking into account customs tariffs and “other non -monetary barriers in trade and forms of fraud.” In particular, duties of 34 percent are introduced in relation to China.
April fourth, Beijing announced the introduction of additional duties in the amount of 34 percent of imports from the United States in response to Washington’s introduction.
China introduces additional duties on all goods imported from the United States, in addition to current tariffs of 34 percent, the PRC State Council said. It is noted that duties will begin to operate from April 10.
China also filed a lawsuit in the dispute resolution mechanism of the World Trade Organization (WTO) in response to the “mutual” duties of the United States.
According to the Ministry of Trade of China, raising duties seriously violate the Rules of the WTO, cause serious damage to the legal rights and interests of the WTO members, and also undermine the multilateral trading system based on the rules.
Along with the increase in duties, the Chinese authorities announced the introduction of 27 American companies with the list of export control. Sixteen companies are included in the list in order to control the export of double -purpose products.