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In Response, China Increases Taxes on another 106 US Products

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China has included today another 106 U.S. products in a tax increase to balance losses due to the tariff hike imposed by Washington on Chinese goods.
 
According to a statement from the Ministry of Commerce, the measure will affect items such as soy, automobiles and chemicals. It was taken in response to the recent announcement of a list of 1,300 goods that will suffer additional tariffs estimated at $50 billion USD, hitting Chinese exports.
 
The U.S. government released a list yesterday as part of its escalating trade pressures against Beijing under the pretext that it unfairly introduces imports into its market.
 
The Office of the Trade Representative stated that the taxes will be 25 percent on machinery, medical equipment, drugs, educational materials, robots, technology and consumer goods such as televisions, which provoked the protest of local retailers.
 
China reiterated the rejection to that action, it will take countermeasures of the same strength and scale, and it will immediately make a complaint at the World Trade Organization because this is a unilateral and protectionist practice. The country also reaffirmed its confidence and ability to respond to the consequences of any U.S. policy.
 
The Ministry of Foreign Affairs also expressed opposition to Washington's latest gesture and stressed that it is detrimental not only to the bilateral, but also global goods movement.
 
The Asian nation put into effect on Monday, April 2, a tax increase valued at $3 billion USD on 128 U.S. products, such as wine, fruits, nuts, pork and recycled aluminum.  / PL