China passes tariff law as tensions with trading partners simmer
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China has passed a tariff law that allows it to hit back at trading partners if they impose tariffs on its exports. The law, which will take effect from December 1, outlines provisions related to tariffs on Chinese imports and exports, including tax incentives and China's right to retaliate against countries that violate trade agreements. The passing of the law comes amid rising tensions between China and the United States and European Union. Beijing has been strengthening its trade defense capabilities since President Xi Jinping came to power in 2012. The law is seen as a way for China to consolidate and improve its measures to deter other countries from imposing tariffs on its exports.

#China #TariffLaw #Trade #Tensions #Exports

https://m.economictimes.com/small-biz/trade/exports/insights/china-passes-tariff-law-as-tensions-with-trading-partners-simmer/articleshow/109678783.cms 

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