China is moving forward with retaliatory tariffs on U.S. products, including the 25 percent tariff on U.S. pork.
China’s Ministry of Finance announced Sunday it will suspend duty reductions on select imported goods from the United States. In the announcement, China says the Trump administration’s steel and aluminum imports to the U.S. violate World Trade Organization rules, and “did not comply with the security exceptions provision.” China alleges the move by trump caused “serious damage” to China’s interests.
China is targeting U.S. items, including fruits, along with the 25 percent tariff on U.S. pork. China says the nation is using its action as a method to “safeguard its interest,” as allowed by WTO rules.
Last week, China’s Ministry of Finance said the action by the U.S. had “severely damaged” the multilateral trade system. China also made a World Trade Organization filing last week to seek consultations regarding the issue.
From the National Association of Farm Broadcasting News Service.