China Reply To US New Tariffs
This week America imposed new tariffs on $200 billion worth of imports from China, reigniting a trade war between the two nations, which has resulted in China announcing $60 billion worth of tariffs on US products today.
The US tariffs confirmed on Monday were the biggest so far, and will apply to almost 6,000 items, including handbags, rice and textiles. Items such as smart watches and high chairs, which were expected to be targeted, have surprisingly been ignored.
The Chinese commerce ministry said that it had no choice but to retaliate and that it hoped the US would correct its behaviour. Shortly afterwards they announced their own tariff adjustments, which included products such as liquefied natural gas, produced in states loyal to Trump.
Unless the two countries come agreement, the US taxes will take effect on 24th September, starting at 10% and increasing to 25% from the beginning of next year.
This is not the first time this year that the US has put tariffs on Chinese products. Last month, the trade war intensified when the US brought in a 25% tax on goods worth $16bn.
This latest round of tariffs means that around half of all Chinese imports to the US are now subject to new duties.
UniOcean Lines continue to operate many vessel loops to and from both Asia and North America.
21st Century Representation
Interested in the many benefits of UniOcean Lines representation? Please complete our online Application Form.
The 21st Century Carrier
Find out how we combine the best of carrier and the best of local services through common goals.
PSA Thailand, a wholly-owned subsidiary of the global port operator PSA International, have announced a joint venture to develop and operate the Thai Prosperity container terminal in Bangkok, along with locally based logistics firm SCG. The two companies have formed...
After a period of very dry weather, the region around the Panama Canal has recently received enough rain to enable bigger vessels to travel through it.This year's lack of rainfall had resulted in many reductions in the draft size of vessels permitted through the...
The 2019 instalment of the UniOcean Lines Asia Europe Service Directory has just been released, which includes all major inbound and outbound loops and services operating in the trade, being the most comprehensive sailing schedule available on the market. The...