- Home
- Business
- News
- US Tariffs to Hit Equal Number of Chinese, Foreign Companies - Chinese Commerce Ministry
US Tariffs To Hit Equal Number Of Chinese, Foreign Companies - Chinese Commerce Ministry
Umer Jamshaid Published September 20, 2018 | 06:55 PM
About half of the companies that will be affected by US import tariffs on China are foreign ones, not Chinese, China's Commerce Ministry spokesman Gao Feng said on Thursday.
BEIJING (UrduPoint News / Sputnik - 20th September, 2018) About half of the companies that will be affected by US import tariffs on China are foreign ones, not Chinese, China's Commerce Ministry spokesman Gao Feng said on Thursday.
"Now we are studying the impact that will be exerted by the US tariffs on imports of Chinese goods worth $200 billion. According to preliminary data, the tariffs will affect consumer industry goods, as well as textile, medical and electromechanic goods. Half of the companies [affected by US tariffs] will be with foreign capital," Gao said at a press briefing.
The spokesman pointed out that US trade protectionism posed a threat not only to companies and customers of both countries, but also to the security of global supply chains.
"Currently, the Chinese government is studying the measures aimed at supporting Chinese and foreign companies that may face difficulties," Gao added.
Chinese-US trade tensions escalated in March after US President Donald Trump announced import tariffs on steel and aluminum. Since then, Washington and Beijing have imposed several rounds of tit-for-tat tariffs, with bilateral trade consultations so far failing to halt the mounting trade war.
Trump said on Monday that the United States would impose fresh 10 percent tariffs on $200 billion of Chinese goods that will take effect on September 24. On January 1, the tariffs are expected to grow to 25 percent.
Related Topics
Recent Stories
Govt likely to hike electricity price once again
Bismah Maroof announces immediate retirement from international cricket
Malala expresses unwavering support for Gaza people
Selection committee dissolved over Pakistan women cricket team's poor performanc ..
Punjab CM Maryam Nawaz in police uniform at Chung police center
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 25 April 2024
Today Gold Rate in Pakistan 25 April 2024
Mired in crisis, Boeing reports another loss
Session Awarding Ceremony 2024 held at Cadet College Muzaffarabad
Austrian ski great Hirscher to make comeback under Dutch flag
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
FM Dar conveys deepest sympathy on torrential rains devastation in UAE
More Stories From Business
-
Govt likely to hike electricity price once again
19 minutes ago -
Mining giant BHP launches bid to take over rival Anglo American
38 minutes ago -
Gold rates up by Rs500 per tola to Rs242,500
2 hours ago -
Tokyo stocks end lower after Meta results
2 hours ago -
EXCHANGE RATES FOR CURRENCY NOTES
3 hours ago -
Foreign exchange rates
4 hours ago
-
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 25 April 2024
5 hours ago -
Today Gold Rate in Pakistan 25 April 2024
6 hours ago -
Meta profits soar but costs of AI cause worry
6 hours ago -
Mired in crisis, Boeing reports another loss
15 hours ago -
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
15 hours ago -
British-Pakistani firm unveils $35 million luxury apartments for overseas Pakistanis in Islamabad
15 hours ago