Trade dispute: US impose new import duties on China

Most recently, the US and China had approached the trade dispute. Now the US government wants to occupy more products worth 50 billion dollars with customs duties.

Trade dispute: US impose new import duties on China

US President Donald Trump, despite recent rapprochement between US and China, wants to prove more Chinese products with billions of import duties. On June 15, a corresponding list of products from Asian country will be published, White House announced. For se, import duties will be payable in equivalent of a total of 50 billion US dollars. Additional customs duties of 25 billion should be imposed shortly reafter.

In negotiations in Washington about a week ago, US and China had reached an agreement: in a joint declaration, countries had announced that y had found a consensus on measures to reduce US trade deficit with China. China will significantly increase import of goods and services from United States. US Treasury Secretary Steven Mnuchin had said after negotiations that import duties on steel and aluminium were no longer an issue.

Trump had announced trade measures against China for first time in March and has since expanded. The memorandum trumps, which has now been supplemented, focuses on protection of intellectual property and technology transfer. The US wants to restrict this transfer as well as certain investments. According to White House, an appropriate list is to be put forward on 30 June and implemented "soon reafter".

Next weekend, a US delegation led by Trade Minister Wilbur Ross in Beijing is expected to continue negotiations in commercial dispute between two largest economies. This dispute is also sensitive to US because Washington relies on aid of Beijing in nuclear dispute with North Korea.

Date Of Update: 30 May 2018, 12:02

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