China was the most affected by Trump’s tariffs. However, more than 50 countries will suffer from today the imposition of tariffs with percentages of up to 50%.
A new round of Tariffs imposed by the United States He entered into force during the early hours of Wednesday, intensifying a Commercial war that already has a strong impact on the global economy. The measure, promoted by President Donald Trump, significantly elevates rates applied to products from more than 50 countries, with an especially aggressive focus on China. The goods from the Asian giant now face an unprecedented accumulated tariff of 104%consolidating Beijing as the main objective of this economic offensive.
These new rates replace the GENERALIZED TAXES OF 10% that began to govern last weekend, which had already caused turbulence in international markets. From 00:01 (Washington time) on Wednesday, higher and differentiated rates were activated for several strategic business partners – among them the European Union, Japan, Vietnam, Argentina and South Korea – with percentages that vary between 11 % and 50 %, depending on the volume of bilateral trade and the surplus with the United States.
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Scope
China was the country most affected by this strategy of staggered increases. After a first rise of 34% previously announced by Trump – in response to Beijing’s equivalent reprisals— The White House applied a new 50%increase, adding to the adjustments already made in February and March. Together, these changes carry the total tariff load on Chinese products to 104%.
China’s counteroffensive
The Beijing Ministry of Finance, led by Lan Fo’an, announced an immediate response 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.
Source: Ambito
