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China says tariffs on U.S. goods to be used to ease impact of trade fight

Reuters  |  BEIJING 

(Reuters) - China's commerce ministry said on Monday that it will use funds collected from tariffs charged on imports from the to help ease the impact of U.S. trade actions on Chinese companies and their employees.

The commerce ministry also said in a statement it will encourage companies to increase imports of products such as soybeans and vehicles from other markets.

and on Friday implemented import tariffs against each other in what is becoming a protracted trade fight.

(Reporting by Monitoring Desk; Editing by Richard Borsuk)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 09 2018. 16:50 IST