Thursday, August 30, 2018

US-China Tariffs

The US is in the process of imposing several waves of tariffs on China. As of April 2018, the US implemented tariffs on steel and aluminum imports from China. A new wave of tariffs imposed on July 6 targets advanced technology to further limit Chinese imports. A future round is currently undergoing a public comment and review process. China responds:
BEIJING — China will make economic changes at its own pace regardless of U.S. pressure, and their worsening dispute over technology policy can only be solved through negotiations as equals, a Commerce Ministry spokesman said Thursday.
The comments reinforced Beijing's rejection of U.S. demands to scale back technology plans Washington says violate China's free-trade commitments and might erode American industrial leadership.
The spokesman, Gao Feng, gave no indication of plans for more negotiations over the conflict, which threatens to chill global trade and economic growth.
"No matter what measures the United States takes to exert pressure, China will proceed with reform and opening up at its own pace," Gao said.

No comments:

Post a Comment