China slaps 10 pct tariff on US LNG imports

China slaps 10 pct tariff on US LNG importsIllustration only. Image source: Pixabay under CC0 Creative Commons license.

China has decided to impose a 10 percent tariff on imports of liquefied natural gas (LNG) from the United States. 

China’s ministry of commerce noted that the tariffs are a response to the latest tariffs imposed by the United States on $200 billion worth of goods imported from China.

China will impose the 10 percent tariff on $60 billion worth of products imported from the United States, which include LNG, starting September 24, the ministry said in its statement.

The tariffs are below those suggested earlier in August when the ministry proposed a 25 percent tariff on LNG imports.

The ministry added the move to impose tariffs on $60 billions worth of imported goods is to protect the country’s economic interest and security.

In addition to the 10 percent tariff imposed on 3,571 tax items, the ministry noted a 5 percent tax will also be imposed on 1,636 tax items imported from the United States.

 

LNG World News Staff

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