Recently, the United States has proposed to increase the tax rate from 10% to 25% on the basis of its previously announced list of 10% tariffs on US$200 billion of Chinese products exported to the United States. In response, China has decided to impose additional tariffs on approximately $60 billion of products imported from the United States at four different rates in accordance with the law. China’s countermeasures of differentiated tax rates are rational and restrained. They were proposed after extensive listening to opinions and careful assessment of the impact. In particular, they fully considered factors such as people’s welfare, the endurance of enterprises, and maintaining the operation of the global industrial chain. The implementation date of the tax measures will depend on the actions of the United States, and China reserves the right to continue to introduce other countermeasures. China has always believed that consultation based on the principles of mutual respect, equality and mutual benefit is an effective way to resolve trade differences. Any unilateral threats or blackmail will only intensify conflicts and harm the interests of all parties.
China once again emphasized that because the United States has repeatedly escalated the situation regardless of the interests of businesses and consumers on both sides, China has to take necessary countermeasures to safeguard national dignity and people’s interests, defend free trade and the multilateral system, and safeguard the common interests of all countries in the world. Benefit.
