US officially raises tariffs on Chinese goods

Saturday, 2019-05-11 09:43:06
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US and Chinese officials have held several rounds of talks in an attempt to strike a deal. (Photo: Getty Images)
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NDO – According to Reuters and the Vietnam News Agency, the US Customs and Border Protection announced on 10 May that it will officially impose a new tariff rate, an increase from the current 10% to 25%, for goods worth US$200 billion imported from China.

* In response to the US tariff increase of up to 25% for goods worth US$200 billion imported from China, the Chinese Ministry of Commerce expressed "deeply regret" over the US action, saying that Beijing would have to take necessary counter-measures. The Chinese Ministry of Commerce also expressed hope that Beijing and Washington could soon reach a consensus and resolve the issue through cooperation and consultation.

* The US media cited reports stating that Chinese Vice-Premier Liu He had a 90-minute discussion with US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin on May 9, but the talks were barely progressing.