On August 15, 2019, the U.S. government announced to impose an additional 10% tariff on approximately $300 billion of Chinese imports, which would take effect on September 1 and December 15, 2019 in two batches. The measures taken by the U.S. have led to a further escalation of bilateral trade frictions, greatly damaged the interests of China, the U.S and other countries, and gravely threatened the multilateral trading system and free trade principles.

In response to the above measures taken by the U.S., China have had to take countermeasures. According to the Customs Law of the People's Republic of China, Foreign Trade Law of the Chinese People's Republic of China, Regulations of the People's Republic of China on the Import and Export Tariff and other laws and regulations and basic principles of international law, and approved by the State Council, the State Council Tariffs Commission said in a statement that a total of 5,078 US products, or approximately $75 billion will be subject to additional tariffs of 10 percent or 5 percent. The tariff hikes will be implemented in two batches and take effect at 12:01 pm Beijing time on Sept 1, 2019 and at 12:01 pm on Dec 15,2019 respectively.

The Commission will continue with the work of exempting certain items from additional tariffs. In the $75 billion list of goods that have been excluded after verification, China will not impose additional tariffs on those goods that have been excluded from counter-based tariff against the U.S. 301 measure; goods not included in the first two batches of eligible for exclusion will be included in the third batch of eligible for exclusion, and The acceptance of applications will be announced separately.

China's imposition of additional tariffs is a forced response to U.S. unilateralism and trade protectionism. China reiterates once again that cooperation is the only correct choice for China and the United States, and that only a win-win situation will lead to a better future. “We hope China and the United States will resolve differences in a manner acceptable to both sides on the premise of mutual respect, equality, good faith, and consistency of words and deeds," the statement said. The two sides are expected to actively build a new balanced, inclusive and win-win Sino-US economic and trade order, jointly safeguard, reform and improve the multilateral trading system, and promote win-win cooperation with other countries in the world, the statement added. (CCTV News)