(THIS ARTICLE IS COURTESY OF 247 NEWS)
CHINA ACCUSES US OF TRIGGERING MAJOR TRADE WAR IN HISTORY
Beijing criticizes Washington’s decision to introduce new tariffs on Chinese products, accusing China of fomenting the biggest trade war in history
JULY 6, 2018 AT 07:13 // SIGN UP FOR TV 247
247, with Sputnik – The US launched a trade war by imposing new 25% tariffs on imports from China on Friday (6), the Chinese Ministry of Commerce says.
“On July 6, the US began imposing 25% tariffs on a series of products imported from China worth $ 34 billion [US $ 132 billion]. The US violated the rules of the World Trade Organization [WTO ] and triggered the biggest trade war in the history of the economy, “the statement said.
In addition, China, which had previously stated that it was not planning to take a “first step”, is now required to take retaliatory action against imported agricultural and automobile products from the US and will notify the WTO of the situation.
On Friday, China is also expected to announce the application of US $ 34 billion in customs duties on products imported from the United States.
Although Beijing’s pace is a response, China will announce measures earlier due to the 12-hour time difference between China and the US.
Washington announced on June 15 its decision to introduce additional 25% tariffs on 818 Chinese products worth a total of $ 34 billion. In response, Beijing said it would take retaliatory action against agricultural products and automobiles imported from the United States.