China has raised the rate of additional tariffs imposed on some of the imported US products from June 1, according to a statement from the Customs Tariff Commission of the State Council. China increased the rate of additional tariffs on some of the about 60 billion US dollars worth of US imports to 25 per cent, 20 per cent, and 10 per cent respectively. The 5 per cent additional tariffs applied to some products remained unchanged. The decision came after the US move to increase tariffs on 200 billion dollars worth of Chinese goods from 10 per cent to 25 per cent as of May 10, reports Xinhua.
Source – Financial Express.
