China denies it will be first to impose tariffs on $34bn of US goods

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PoDi

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Jul 4, 2018
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China has denied it will fire the opening salvo in an escalating trade dispute with the US, insisting that it would not bring in 25% tariffs on $34bn (£26bn) of American goods before a move from Washington.

Both sides have threatened to impose similarly sized tariffs on 6 July, but because of the 12-hour time difference, it was thought the Chinese tariffs on US imports ranging from soybean to stainless steel pipes could take effect earlier.

However, China’s finance ministry issued a statement on Wednesday saying that it would not be the first to levy tariffs.

Read more:
https://www.theguardian.com/business/2018/jul/04/china-to-impose-tariffs-before-the-us-as-trade-dispute-escalates