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BEIJING – The latest on the tariff, technology and trade dispute between the United States and China (all local times):
8: 30 pm
The Chinese Ministry of Commerce claims that Beijing will use higher import duty revenues on US products to help businesses that may be affected by the trade dispute with Washington.
On Friday, the United States imposed duties of 25% on Chinese products of about $ 34 billion.
The Chinese Ministry of Commerce said on Monday that Beijing would use this additional revenue to "ease the impact on businesses and employees." 19659009] According to the statement, importers would be encouraged to switch to the purchase of soybeans and other agricultural products from countries that are not affected by tariffs.
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3:50 pm
Chinese exporters plunge a dip in US pressure on Washington's rising tariffs in a spiraling technological conflict has prevented the state press to limit Friday's rise in tariffs to the second largest economy in the world, according to private sector analysts. But President Donald Trump's measures targeting Chinese medical, construction and plant equipment have hit small exporters who say that price-conscious American customers have stopped buying.
The general manager of Wuxi Yushou Medical Devices Co., Ltd. who sells syringes and other medical equipment, said that he plans to fly to the US next week to negotiate with customers who have stopped placing orders even before the rates come into effect .
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