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WEB DESK
Responding to President Donald Trump’s higher tariffs on steel and aluminium imports from China, Beijing today announced plans to impose tariffs on three billion dollar worth of imports from the US including pork and aluminium pipes.
In a statement, Chinese Commerce Ministry urged the US to pull back from the brink of pitting the world’s two biggest economies against each other. The Ministry said the tariffs would be implemented if the two countries were unable to resolve trade issues. It called on Washington to reach a negotiated settlement of the dispute as soon as possible but gave no deadline.
It said, China last year bought about 3 billion dollar worth of the goods affected by the proposed higher tariffs.The ministry criticised Trump’s action as a violation of global trading principles.
The retaliatory measures are consistent with World Trade Organization rules, which allow for counter-safeguard measures on imports.