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Wednesday, April 04, 2018, 17:56
China mulls additional tariffs on US products worth US$50b
By Xinhua
Wednesday, April 04, 2018, 17:56 By Xinhua

Container ships wait to be unloaded at the Port of Oakland on March 7, 2018, in Oakland, California. Responding to Washington’s unveiling a list of Chinese products subjected to additional tariffs, China unveiled a list of US products worth US$50 billion which will be subject to higher tariffs in the country (BEN MARGOT / AP)

BEIJING – China on Wednesday unveiled a list of products worth US$50 billion, including soy bean, automobiles and chemical products, imported from the United States that will be subject to higher tariffs.

Those who attempt to make China surrender through pressure or intimidation have never succeeded before, and will not succeed now. 

Geng Shuang, Spokesman, Foreign Ministry, China

The Customs Tariff Commission of the State Council has decided to impose additional tariffs of 25 percent on 106 items of products under 14 categories, the Ministry of Finance (MOF) said in a statement on its website. 

The move was taken after the US administration unveiled a proposed list of products subject to additional tariffs, which covers Chinese exports worth US$50 billion with a suggested tariff rate of 25 percent. 

READ MORE: US releases proposed China tariff list amid strong opposition

The date of implementation will depend on when the US government imposes the tariffs on Chinese products, the MOF said. 

In a statement, the Ministry of Commerce (MOC) said termed the US move as "an evident violation of relevant rules of the World Trade Organization (WTO)." 

The MOC said it has filed a request for consultations under the WTO dispute settlement framework over the US tariff hike proposals.

The US move "severely infringed on the legitimate rights and interests that China enjoys in accordance with the WTO rules, and threatened China's economic interests and security," the MOC said.  

China’s foreign ministry, meanwhile, urged the US to abandon trade tariffs and return to dialogue, consultation and win-win cooperation. 

ALSO RAED: China condemns US proposed tariffs on exports 

"Those who attempt to make China surrender through pressure or intimidation have never succeeded before and will not succeed now,"  Foreign Ministry spokesperson Geng Shuang told a daily press briefing.     

Geng said China has showed sincerity in seeking solutions through dialogue, "however, the United States has repeatedly missed the best opportunities for an appropriate resolution."     

There is no winner in a trade war, he said, adding the US tariff proposals hurt the interests of the United States at first.     

"We have noticed that the US business circle, consumers, media and think tanks had expressed concerns over the US proposals as well as its severe consequences," Geng said.     

Many countries and international organizations have also voiced concerns and opposition to the unilateralist, protectionist action, he added.     

"We hope the United States will pay attention to rational, pragmatic voices, abandon wrong practices at an early date, and return to the correct track of dialogue, consultation and win-win cooperation," Geng said.    

China's strength and confidence have been strengthened through overcoming difficulties and dealing with pressure over 40 years of reform and opening-up, Geng said.     

When responding to reports saying the US tariff list targeted products that benefit from the "Made in China 2025" action plan, Geng said the action plan aims to turn China into a great power in manufacturing.    

"There is nothing wrong with strengthening our own manufacturing capability," Geng said.     

The United States, with the world's leading technology and manufacturing capabilities, should be more confident, and compete fairly, rather than imposing unilateralist, protectionist measures, said the spokesperson.       

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