Beijing: China is \u201cstrongly dissatisfied with and firmly opposed\u201d to Washington\u2019s finalised plans to increase tariffs on a range of key Chinese industries, from electric vehicles and photovoltaic cells to semiconductors. \u201cThe United States should immediately correct its wrong practices and cancel all tariff increases on China,\u201d the Ministry of Commerce said over the weekend in response to the US announcement. \u201cChina will take necessary measures to resolutely defend the interests of Chinese enterprises.\u201d The ministry said Washington\u2019s decision would not only seriously undermine the \u201cinternational trade order\u201d and \u201cglobal industrial chain and supply chain\u201d, but also failed to address the US trade deficit and industrial competitiveness. \u201c[The actions will] push up the prices of US imports, with the costs ultimately borne by US businesses and consumers,\u201d it added. The comments followed the US Trade Representative\u2019s (USTR) announcement on Friday confirming tariffs ranging from 25 per cent to 100 per cent on hundreds of products. The tariffs were proposed by the White House in May and vetted by the USTR as part of a review under Section 301 of the Trade Act of 1974. According to the USTR\u2019s report, duties on Chinese EVs will quadruple to 100 per cent, and a 25 per cent tariff will apply to Chinese EV batteries, with both taking effect in two weeks. Chinese lithium-ion batteries not used for EVs will also have a 25 per cent tariff from 2026. Semiconductors and solar cells \u2013 two other key sectors in China\u2019s move up the industrial chain \u2013 will also be subject to 50 per cent tariffs starting next year and this year respectively. In addition, 100 per cent duties will apply to some medical products, including syringes, needles and medical gloves. News Agency
\nTariffs on ship-to-shore cranes will rise to 25 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"
Beijing: China is \u201cstrongly dissatisfied with and firmly opposed\u201d to Washington\u2019s finalised plans to increase tariffs on a range of key Chinese industries, from electric vehicles and photovoltaic cells to semiconductors. \u201cThe United States should immediately correct its wrong practices and cancel all tariff increases on China,\u201d the Ministry of Commerce said over the weekend […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-431473","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n