Monday Govt to financially help companies hit by US tariffs
China will use funds collected from tariffs charged on shipments from the United States to reduce the impact of US trade moves on Chinese companies and their employees, the Ministry of Commerce announced.
The ministry said in a statement that the government will encourage companies to increase goods and commodity imports, including automobiles, aquatic products and soybeans from other markets.
China’s latest action came after the US government started to impose punitive tariffs on $34 billion of Chinese imports. China then retaliated by levying duties of the same amount to defend its interests. (Photo 1)