You are here

China announces additional tariffs on US$50b of US goods including soya beans, cars

325913941_0-3.jpg
China will impose additional tariffs of 25 per cent on 106 US products including soya beans, cars and chemicals, state broadcaster CCTV reported on Wednesday.

[BEIJING] China will impose additional tariffs of 25 per cent on 106 US goods including soya beans, vehicles, chemicals, some types of aircraft and corn products, among other agricultural goods, the finance ministry said on Wednesday.

The products targeted by the tariffs were worth US$50 billion in 2017, according to a separate statement from the commerce ministry.

Extra tariffs will also be slapped on products such as whisky, cigars and tobacco, some types of beef, lubricants, and propane and other plastic products, the finance ministry said in its statement.

US orange juice, certain sorghum products, cotton, some types of wheat, as well as trucks, some SUVs, certain electric vehicles, will also be subject to the new duties, the finance ministry said.

China will announce the effective date for the new tariffs at a later time, CCTV said.

REUTERS

sentifi.com

Market voices on: