Chinese government will not move ahead with implementation of tariffs againt US before the announcement is made from US authorities. “The Chinese government has made it clear numerous times that we have to get prepared and once the US announces a tariff list, we’ll take the necessary measures to defend our legitimate rights,” the ministry said in a statement. It is set to import levies on 818 Chinese products worth $34bn a year on 6 July, but will not target the remaining 114 products worth $16bn from its plan until it gathers additional public comments.
China in response said it will impose a 25% tariff on 545 US products worth $34bn and is planning to impose the levy on an additional 114 US goods worth $16bn.
The US then further threatened to impose tariffs on additional $200bn worth of Chinese goods, which would likely trigger another round of retaliatory tariffs from Asia’s biggest economy.
