Washington maintains "punitive charges" against Beijing
10:20 - 15/01/2020
Information / Baghdad ...
The United States announced on Tuesday that it will maintain customs duties imposed on Chinese imports because the partial trade agreement, which Washington intends to sign with Beijing on Wednesday, does not provide for the abolition of these duties.
"There is no agreement to reduce tariffs in the future," the US Treasury and the Office of the US Trade Representative said in a joint statement. Any rumors that say otherwise are completely false. ”
The joint statement comes after a report by Bloomberg, in which it said that the customs duties imposed on billions of dollars in Chinese imports will remain in force until after the US presidential elections scheduled for November, after which they can be removed.
Beijing is demanding that Washington abolish all or part of the punitive customs duties imposed on its exports to the United States.
The statement came on the eve of the two countries signing a partial trade agreement that would establish a truce in their two-year trade war, during which the two largest economic powers in the world exchanged customs duties, tightening hundreds of billions of dollars in annual trade exchanges.
US President Donald Trump sparked a trade war with Beijing in 2018, especially with a view to rebalancing bilateral trade, resulting in a response from China and concern in global markets.
Under the partial agreement, the Trump administration will continue to impose punitive customs duties of 25 percent on industrial products worth $ 250 billion in annual Chinese imports, while reducing to 7.5 percent, half the 15 percent fee, which was imposed on other Chinese imports of $ 120 billion annually . Finished 25