In detail, this Friday China announced that it will increase from 84% to 125% – same percentage imposed by Donald Trump – on the duty Above all imported products from the United States, in response to the new rates package approved by the White House. “The United States has ignored the global economic order that helped build after World War II”said the text that formalized the measure.
On the development of Asian power, Xi Jinping said that, in the last 70 years, his country achieved growth through self -sufficient and arduous struggle, without relying on the mercies of others.
In reference to the current uncertainty after the cimbronazo in the markets by the media of Donald Trump, the Chinese president said that No matter how to change the outside world, China will remain confident and focused on handling their own issues.
Finally, the president He urged China to fulfill its international responsibilities, and continue your work together to “save economic globalization” and the international commercial environment, strongly beaten during the last days. “This not only safeguards the legitimate rights and interests of China and the EU, but also serves to maintain equity and justice within the international community, while defending international norms and order,” he said.
Commercial War: China announces 125% US tariffs in response to Donald Trump
Despite the words of his president, China announced an increase in 84% to 125% tariffs on all imported products from the United Statesin response to the new rates package approved by the White House. In an official statement, the Chinese government accused Washington of having deliberately ignored the international economic order that helped build after World War II with its New battery of new tariff measures.
In addition, the text denounced that the recent decisions taken by the White House They represent one direct threat to the fundamental interests of China. In an unusually forceful message, the Asian giant warns that Beijing’s patience “has limits” And that, if Washington “insists on inflicting substantial damage” to his interests, China “will respond firmly and accompany him until the end.”
Trump Tariffs.jpg
The reaction of the Chinese government is part of a chain of actions and reactions – initiated with the Trump rates announced on April 2 – which caused a constant escalation in the commercial war between both powers. In detail, only last Wednesday China had increased from 34% to 84% tariffs to US products, in retaliation for the increase prior to 50% imposed by the Trump administration to Chinese goods, To which a new update came from Washington that raised the taxes to 125%, which, added to other previous measures, carries the load Total tax on Asian giant imports to 145%.
Despite the challenging tone in his statement, from Beijing they show The American products market in China. According to the statement, the taxes have already caused those goods lose all competitiveness, What returns “irrelevant” Any additional attempt by the US to continue raising tariffs. “It will be a mockery in the history of the world economy,” said the Chinese government.
“China does not want a commercial war, but it does not fear it,” said the spokesman for the Foreign Ministry, Lin Jian who also demanded that the United States “stops exercising” if he really intends to resolve the conflict through dialogue.
In parallel, China filed a formal demand before the World Trade Organization (WTO), in a new attempt to climb the dispute to the multilateral plane. According to the state press, the initiative seeks to denounce the illegal and discriminatory nature of the new US tariffs, and aims to add support among other WTO members, especially those who have also been the target of unilateral commercial measures by the United States.
Source: Ambito
