In addition, the Chinese government also announced a 50% increase in existing levies, in a clear sign of firmness in the face of the Trump administration’s commercial offensive.
After the entry into force of 104% tariffs imposed by the United States to imports from China, the Beijing Ministry of Finance, led by Lan Fo’an, an immediate response announced on Wednesday: It will apply 84% tariffs to American products from Thursday. In addition, the Chinese government increased by a 50% already existing levies, in a clear sign of firmness against the commercial offensive of the Trump administration.
“China has abundant means and a firm will,” said an official spokesman, who also demanded respect for Washington as an indispensable condition for any negotiation. The reaction comes after Trump himself assured that “China is desperate to reach an agreement”, in statements that further tense diplomatic tone between both powers.
In parallel, The European Union votes its countermeasted package this afternoon in front of the first US tariff wave, which affects steel and aluminum. The vote is expected to prosper and impose measures worth up to 21,000 million euros against US assets, ranging from agricultural products to manufactures.
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China to Donald Trump’s tariffs: “We will not let them intimidate us”
China said that He does not want a commercial war with the United Statesbut it will be seen forced to face to the first world economy if the president Donald Trump It continues to intensify commercial tensions, his Ministry of Commerce said Wednesday.
“There are no winners in a commercial war“The Ministry said in a statement.” China does not want one, but the government will never allow the legitimate rights and interests of the Chinese people to be harmed or taken. “
The statement accompanied a white paper on commercial ties between the US and China published by the State Council Information Officewhich relates to the media on behalf of the government.
The document was published after Trump’s mass tariffs of 104% on Chinese products, a measure that Beijing has described as “blackmail” and has promised to fight.
“The United States is using tariffs as a tool to exert maximum pressure to obtain selfish benefits. This is classic unilateralism, protectionism and economic harassment,” added a ministry spokesman.
Source: Ambito
