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The Chinese and American flags flutter near the BUND, before the US Commerce Delegation knows its Chinese counterparts for conversations in Shanghai, China, on July 30, 2019.
Ary song | Reuters
Beijing – China “firmly rejects” additional tariffs from the United States over Chinese goods and will take countermeasures, The Ministry of Commerce said in a statement on Tuesday.
The duties will “damage” the commercial relations of the United States and China urges the United States to withdraw them, said the Ministry in Chino, translated by CNBC. Beijing has previously warned about the countermeasures, but has not yet detailed any.
After the first round of new US rates in February, China’s retaliation measures included Raise tariffs of certain energy imports in the United States and put two American companies in a list of unreliable entities that could restrict their ability to do business in the Asian country.
The White House has confirmed that the new 10% tasks in Chinese products will take effect on Tuesday, which causes the total number of new rates imposed in almost a month to 20%.
The EE. UU.
Global Times backed by China reported Monday, citing a source, which Beijing was Considering retaliation rates on US agricultural products.
American exports of agricultural products, such as soybeans to China, represent most of the US assets exported to China to 1.2%, or $ 22.3 billion, from 2023, according to Allianz Research Analysis.
Oil and gas occupy second place for a 1%action, or $ 19.3 billion, according to the investigation. Pharmaceutical products occupied third place with 0.8% or $ 15.6 billion.
On Tuesday, China is also starting an annual parliamentary meeting known as the “two sessions.”
Policy formulators are established on Wednesday to reveal the annual objective of the gross domestic product and Fiscal Stimulus Plans for the Year.