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JULY 6, 2018
China would lose a trade war with the US. China said that it wouldnt implement tariffs ahead of the U.S. on Friday, after previous arrangements put it on course to do so. "We will never fire the first shot and will not implement tariffs ahead of the U.S.," the Ministry of Finance said in a statement late Wednesday, after media reported that Beijing would start levying tariffs hours ahead of the U.S. due to the time zone difference.
Bloomberg earlier reported that China would start applying the duties from midnight on Friday -- midday on July 5 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. China fails to comprehend their position.
Beijing time is 12 hours ahead of Washington.
A statement issued by the Chinas State Council on June 16 said that retaliatory
extra duties on $34 billion of U.S. imports are set to take effect on July
6. The U.S. Trade Representatives statement from June 15 said that Customs
and Border Protection would begin collecting their additional duties from
July 6. Neither nation specified a time.