China To Respond To New US Economic Restrictions With $34 Billion In Tariffs: Media

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China To Respond To New US Economic Restrictions With $34 Billion In Tariffs: Media

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China has prepared reciprocal tariffs against the US, which would be introduced on the same day Washington implements tariffs on $34 billion of Chinese imports, Reuters reports.

“Our measures are equal and being equal means that if the US starts on July 6, we start on July 6,” Reuters quoted a source in Beijing. “The implementation time for all policies starts at midnight.”

The administration of US President Donald Trump announced on June 15 that Washington is going introduce additional 25-percent duties on 818 items of Chinese imports worth $34 billion on July 6.

Meanwhile, the Chinese Foreign Ministry confirmed that China is ready to respond to the US actions.

“China has already made preparations. As long as the United States issues a so-called tariff list, China will take necessary measures to firmly protect its legitimate interests,” Chinese Foreign Ministry spokesman Lu Kang said.

The US-Chinese economic cnonflict is developing.

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