China vows to unveil retaliatory measures to U.S. tariffs
- 6 years ago
The trade tensions between the world's two economic superpowers is heating up.
Shortly after the U.S. unveiled a list of Chinese imports to be hit with 25-percent tariffs,... China responded that it will retaliate with similar measures against American goods.
Kim Ji-yeon reports.
Newly released tariff measures by the U.S. are raising the possibility of a looming trade war between the United States and China.
China's Ministry of Commerce said in a statement on Wednesday that it'll take retaliatory measures on American goods, right after the U.S. unveiled a list of 13-hundred Chinese goods subject to 25-percent tariffs, as part of its punishment against Beijing over alleged intellectual property rights violations.
The Chinese commerce ministry argues that the U.S. has violated the spirit and principles of the World Trade Organization regulations and says it'll come up with measures that are similar in terms of scale and impact.
The list by the U.S. Trade Representative covers annual Chinese imports worth 50 billion U.S. dollars including industrial robots, telecommunications equipment and biomedical products, which are part of China's ten major core industrial development projects.
Bloomberg reported that the U.S. is trying to undermine China's development efforts in these areas as China tries to move away from its current manufacturing-based economy towards a more technologically advanced economy.
The U.S. measures, which will not take effect until May 11th after public opinion has been gathered, come a day after Beijing slapped tariffs on nearly 130 American items, mainly agricultural goods.
Kim Ji-yeon, Arirang News.
Shortly after the U.S. unveiled a list of Chinese imports to be hit with 25-percent tariffs,... China responded that it will retaliate with similar measures against American goods.
Kim Ji-yeon reports.
Newly released tariff measures by the U.S. are raising the possibility of a looming trade war between the United States and China.
China's Ministry of Commerce said in a statement on Wednesday that it'll take retaliatory measures on American goods, right after the U.S. unveiled a list of 13-hundred Chinese goods subject to 25-percent tariffs, as part of its punishment against Beijing over alleged intellectual property rights violations.
The Chinese commerce ministry argues that the U.S. has violated the spirit and principles of the World Trade Organization regulations and says it'll come up with measures that are similar in terms of scale and impact.
The list by the U.S. Trade Representative covers annual Chinese imports worth 50 billion U.S. dollars including industrial robots, telecommunications equipment and biomedical products, which are part of China's ten major core industrial development projects.
Bloomberg reported that the U.S. is trying to undermine China's development efforts in these areas as China tries to move away from its current manufacturing-based economy towards a more technologically advanced economy.
The U.S. measures, which will not take effect until May 11th after public opinion has been gathered, come a day after Beijing slapped tariffs on nearly 130 American items, mainly agricultural goods.
Kim Ji-yeon, Arirang News.