
Audio By Carbonatix
China announced that it will increase tariffs imposed on about $60 billion of U.S. goods in retaliation for President Donald Trump’s latest escalation of the trade war.
The tariffs will take effect on June 1, according to a statement on the Ministry of Finance’s website on Monday. The charges will thereby be raised on most of the goods listed on a previous retaliation list effective last September.
The yearlong trade frictions between the world’s two biggest economies worsened last week when the Trump administration announced an extra 25% tariff on thousands of Chinese products worth about $200 billion. The U.S. is set to release a plan to levy a 25% additional tariff on all remaining imports from China later on Monday.
China’s retaliatory tariffs will be imposed at the following levels:
- 25% tariffs on 2,493 items from current 10%
- 20% tariffs on 1,078 items from current 10%
- 10% tariffs on 974 items from current 5%
- 5% tariffs to continue on 595 items. Auto parts, which were initially on the list but have been exempted since December, are still excluded
The Ministry also said in another statement that importers and associations can apply for exemptions for goods on the tariff lists. Once approved, the goods will be excluded and won’t be subject to the punitive tariffs for one year. Companies can also get a rebate of already paid tariffs.
“China’s tariff move is in response to the U.S. unilateralism and trade protectionism,” the ministry said in a separate statement on Monday. “China hopes that the U.S. will return to the right track of bilateral trade talks, work together with China and meet each other halfway, to reach a win-win and mutually beneficial agreement on the basis of mutual respect."
Latest Stories
-
NPA to enforce stricter registration rules for petroleum tankers
5 minutes -
Manhyia South MP laments decline in hospitality operations in his constituency
18 minutes -
How a simple clean charcoal innovation could benefit Ghana’s climate future
22 minutes -
NPA, COMAC launch Safety Week 2026 to promote risk management in petroleum sector
23 minutes -
Stakeholder engagement resolves onion trade impasse
31 minutes -
Gender Ministry holds staff durbar, welcomes new Chief Director
42 minutes -
Unexpected illness sparked my radio career – Tommy Annan-Forson
45 minutes -
Bolt Ghana awards GH¢50,000 to women entrepreneurs through “She Moves to Win” campaign
48 minutes -
NRGI Country Manager questions speed of ministerial approval in Damang mining deal
56 minutes -
Publish the assessment — NRGI demands transparency in Damang mining deal award to E&P
1 hour -
Tamale: Alhaji Hussein Fuzak funds construction of 3-storey classroom block at Ambariya Islamic School
2 hours -
Gender Ministry holds staff durbar, welcomes new Chief Director
2 hours -
Anti-LGBTQ+: Mahama prioritises sentiments of development partners over Ghanaian values – Ntim Fordjour
2 hours -
CPA intensifies crackdown on fake diapers across public hospitals
2 hours -
Deputy Defence Minister urges failed GAF applicants to check medical disqualification reasons
2 hours