BEIJING (BLOOMBERG) - China said that planned US tariffs on an additional US$300 billion (S$417 billion) in Chinese goods is a violation of accords reached by President Donald Trump and President Xi Jinping, signalling its intention to impose retaliatory measures.
The new 10 per cent levies have taken the United States and China off the track of solving its dispute through negotiation, according to a short Thursday (Aug 15) statement from the State Council Tariff Committee.
China "has no choice but to take necessary measures to retaliate", the committee said, without specifying what China would do. The committee has overseen tit-for-tat retaliatory tariffs on American products.
Mr Trump announced the new tariffs this month, after which China halted purchases of agricultural goods and allowed the yuan to weaken.
Still, top negotiators held a phone call earlier this week and the US delayed the imposition of some of the new tariffs. Negotiators also agreed to have another phone call in the coming two weeks, and people familiar said earlier that the Chinese delegation is sticking to their plan to travel to the United States in September for face-to-face meetings.