Asian Stock markets
China will take counter-measures of the “same proportion” and scale if
the United States imposes further tariffs on Chinese goods, China’s
ambassador to Washington said, amid growing fears of an impending trade
war.
Cui Tiankai made the comments ahead of what is expected to be the announcement this week of U.S. tariffs on $50 billion to $60 billion in Chinese imports following an investigation under Section 301 of the 1974 U.S. Trade Act.
The U.S. tariffs are expected to target products benefiting from Beijing’s “Made in China 2025” industrial development program, although it may be more than two months before the import curbs take effect, U.S. officials have said.
China on Sunday announced tariffs on $3 billion in imports of U.S. food and other goods in response to U.S. tariffs on imports of aluminum and steel, a skirmish that investors fear is a prelude to a broader trade war.
The Section 301 investigation initiated by U.S. President Donald Trump is focused on accusations of theft of intellectual property and forced technology transfer by China, charges Beijing denies.
Cui Tiankai made the comments ahead of what is expected to be the announcement this week of U.S. tariffs on $50 billion to $60 billion in Chinese imports following an investigation under Section 301 of the 1974 U.S. Trade Act.
The U.S. tariffs are expected to target products benefiting from Beijing’s “Made in China 2025” industrial development program, although it may be more than two months before the import curbs take effect, U.S. officials have said.
China on Sunday announced tariffs on $3 billion in imports of U.S. food and other goods in response to U.S. tariffs on imports of aluminum and steel, a skirmish that investors fear is a prelude to a broader trade war.
The Section 301 investigation initiated by U.S. President Donald Trump is focused on accusations of theft of intellectual property and forced technology transfer by China, charges Beijing denies.
No comments:
Post a Comment