Business Brief (June 4): China Responds to New U.S. Section 301 Tariffs

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China responds to U.S. Section 301 tariffs

Washington announced the results of its most extensive Section 301 investigation, proposing additional tariffs of 10% or 12.5% on 60 economies. In response, China’s Ministry of Foreign Affairs stated that Beijing consistently opposes all forms of unilateral tariffs, emphasizing that tariff and trade wars do not serve any party’s interests and that economic and trade issues should be resolved through dialogue and consultation based on equality, respect and mutual benefit.