China said it is raising its tariffs on US products at 84%, above its previously announced ads 34%, after the import tariffs of President Trump about Chinese good about the Chinese good It entered into force Today at a rate or 104%.
Trump base tariffs, which apply to imports of almost all nations, were activated after midnight east in the United States, but on Wednesday afternoon the president announced that most of the majority of the New import taxes for 90 days and reduce the “reciprocal rate” rate to 10%, from immediately,
At the same time, Trump said the rate of Chinese imports to 125%is increasing.
“Based on the lack of respect that China has demonstrated to the world markets, I am raising the rate loaded to China by the United States of America to 125%, effective in a nonsense” Hey on Truth Social.
The president continued: “At some point, hopefully in the near future, China will realize that the days of cheating the United States and other countries are no longer sustainable or acceptable.”
China decreases the “error” of the United States
China’s announcement indicates that Beijing is not retreating in a global trade war caused by Trump’s decision of April 2 to collect the so -called “reciprocal tariffs” on Almost all nations. In response to that announcement, China said it would counteract the same duty, 34% at that time, in US imports, which led Mr. Trump to slapped another 50% rate on Chinese imports.
Trump rates can pay US companies that import products from China. It is likely that these companies transmit the cost of all or import tariffs on US consumers, walking prices of everything, from iPhones to clothes made in China, according to experts.
In April 9, China said that Mr. Trump’s decision to add another 50% rate as an “error error.” He also called Mr. Trump’s tariffs as an example or “unilaterism, protectionism and economic harassment.”
Beijing’s most recent measures include adding 11 American companies to a call of “unreliable entities” that would prevent Chinese companies from selling them with double sex. Among the companies are American photonics and Synexxus, which work with the US army.
Until now, China has not seemed interest in negotiation. “If the United States really moves to solve problems through dialogue and negotiation, it must adopt an attitude of equality, respect and mutual benefit,” said the Ministry of Foreign Affairs, Lin Jian on Wednesday.
China now controls about 35% of the manufacture of the world, compared to 12% for the United States, according to the economic policy research center. Beijing has also expanded its exports to other countries, particularly in the development of nations, since it seeks classes of its dependence on the USA., Research, the Onyx Strategic Insights research group observed in a recent report.
“China has spent the last five years to Trump’s proof its economy: it has legs working to nationalize supply chains, it has legs working to penetrate the diffraded markets, participulate in the world of development”, Scott Lincican, an expert in target trade ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, THE CATO. Moneywatch China is “willing to endure pain, thinking they can handle it more time than we can, and they could have a point.”
China was the third largest export market for the US. In 2023, after Canada and Mexico, with $ 145 billion in goods sent to the Asian nation that year, according to the United States and China Business Council. Oleaginous seeds and grains are the largest export that the United States sends to China, followed by oil and gas.
EU also returns backwards
Separately, the European Union on Wednesday announced its own retaliation measures against the US.
“The EU considers unjustified and harmful US rates, causing economic damage to both parties, as well as the global economy,” said the European Commission in a statement issued after the EU member states approved the measures.
The Trump administration has imposed 25% tariffs on EU vehicles, together with a 20% reciprocal tax.