China enacted a Tariff Law on Dec 1, empowering it to retaliate against trade partners imposing tariffs on its exports.
China passed a Tariff Law, effective from Dec 1, asserting its ability to retaliate if trade partners impose tariffs on its exports. The law, approved by the top legislature, outlines legal provisions related to tariffs on Chinese imports and exports, and comes amidst tensions with the US and EU over excess industrial capacity. Beijing has enhanced its trade defence capabilities since Xi Jinping took power in 2012.
April 26, 2024
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