China formally notifies the WTO of retaliatory tariffs against U.S.
China has notified the World Trade Organization it is imposing $611.5 million worth of retaliatory tariffs on $2.75 billion worth of U.S. imports including pork, nuts and ethanol in response to U.S. duties on aluminium and steel, a WTO document showed.
The document, dated last Thursday but posted only after the Easter public holidays, came after China said late on Sunday it has increased tariffs by up to 25 percent on 128 U.S. products, escalating a dispute between the world`s biggest economies.
China has fulfilled its legal duty to notify the WTO and other member states of its retaliatory measures.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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