In Response To Trade Restrictions Imposed By The United States, China Began To Take Action.
In response to trade restrictions imposed by the United States, China began to take action. On the morning of March 23, the Ministry of Commerce of the People's Republic of China issued a list of discontinuation and reduction products for the United States importing steel and aluminum products 232 measures and solicited public opinions. It intends to impose tariffs on certain products imported from the United States in order to balance the Aluminum products impose tariffs on losses caused by Chinese interests. The list includes 7 categories and 128 tax products, involving approximately US$3 billion in US exports to China. The first part totals 120 taxes and it is proposed to impose a 15% tariff. In the second part, a total of 8 taxes will be imposed, and 25% of tariffs are proposed to be imposed, including scrap aluminum. The Ministry of Commerce stated that if China and the United States fail to reach a trade compensation agreement within the stipulated time, China will exercise the power to suspend concessions for the first part of the product; and after further evaluating the impact of the U.S. measure on China, it will implement the second part list.