3/23, 9:52 AM (Source: TeleTrader)
more TeleTrader news

China urges US to remove trade tariffs

China's Ministry of Commerce called on the United States to remove trade restrictions on the import of Chinese products "as soon as possible," the ministry's spokesperson Shu Jueting revealed on Thursday, adding that the tariffs harm Washington itself.

"US 301 tariff measures are typical unilateralism and trade protection practices, which have seriously interfered with the normal development of Sino-US bilateral trade and undermined the stability of the global industrial and supply chains," she explained, pointing out the fact that the World Trade Organization also found that these US restrictions violated trading regulations.

In a report published last week, US International Trade Commission revealed that 301 tariffs reduced overall imports from China by 13%, cutting the imports of semiconductors by 72.3%, which in return increased the chips prices by 4.1% in the US.

Baha Breaking News (BBN) / AB