China official announced retaliation to US tariffs hikes from 10% to 25% on USD 200B in Chinese import effective on May 9.
In a statement of the Office of the Customs Tariff Commission of the State Council, China criticized that the above move by the US “led to an escalation of economic and trade frictions, which violates the consensus of China and US to resolve trade differences through consultations”. And, that “harms the interests of both sides and does not meet the general expectations of the international community.”
The Commission announced to “adjust” and raise current tariffs on US imports, effect June 1. For the list of USD 60B tariffs US products, rate will be raised to 25%, 20% or 10%. For those products at 5% tariffs, the rate will be maintained.
Looking at the details, a total of 5140 lines of US products will be affected. Among them, additional 25% will imposed of 2493 lines, additional 20% will be on 1078 lines
Full statement (in Simplified Chinese).
