China vows not to fire tariff shot ahead of U.S. as implementation date looms
The Chinese Government has said that it won't implement tariffs ahead of the U.S. this week, in response to a media report that Beijing would levy duties before the U.S. due to the 12-hour time difference, Bloomberg reported.
Both countries have announced 15% tariffs for US$50 billion worth of goods on each other, with the first US$34 billion of tariffs due to come into effect this on Friday.
"We will never fire the first shot and will not implement tariffs ahead of the U.S.," the Ministry of Finance said on Wednesday.
Bloomberg earlier reported that China would start applying the duties from midnight on Friday - midday on Thursday in Washington - according to two officials with knowledge of the plans.
The Chinese customs service had adjusted their systems so the new tariffs would start being charged as soon as the clock ticks over to July 6 in Beijing, according to one of the people.
The products China has included on its list to be hit by the tariffs on July 6 include the U.S.'s top agricultural exports to the country, including cherries, citrus, apples and grapes.
Meanwhile, Reuters has reported that China is putting pressure on the European Union to issue a strong joint statement against President Donald Trump’s trade policies at a summit later this month.
In meetings in Brussels, Berlin and Beijing, senior Chinese officials, including Vice Premier Liu He and the Chinese government’s top diplomat, State Councillor Wang Yi, have proposed an alliance between the two economic powers and offered to open more of the Chinese market in a gesture of goodwill, according to European officials.