Caixin
Jul 09, 2018 11:28 PM
FINANCE

Quick Take: China to Urge Businesses to Consider Alternatives to Buying From U.S.

China will encourage firms to adjust their respective import structures to increase purchases from countries other than the U.S., the government said Monday.

The announcement follows authorities’ raising tariffs on shipments from the U.S. in response to the Trump administration’s imposing punitive duties on goods from China.

“China fully considered the nature of import substitutes as well as the overall impact on trade and investment when researching the list of products for retaliatory tariffs,” an unnamed spokesperson from the Ministry of Commerce said in a statement, addressing a question about how the government planned to ease the impact on firms that will result from the Sino-U.S. trade dispute.

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