Friday, the Chinese finance ministry said it would impose a 34% price on all goods imported from the United States from April 10, following rights imposed by the American president Donald TrumpAdministration earlier this week.
“China urges the United States to immediately cancel its unilateral tariff measures and to resolve commercial differences by consultation equally, respectful and mutually beneficial”, ” The ministry saidAccording to a Google translation.
It Further Criticized Washington's Decision To impose 34% of Additional Reciprocal Levies on China – Total Bringing Us Tariffs Against the Country to 54% – As “inconsistant with international trade rules” and “seriously” undermining chinese interest, as well as endangering “Global Economic Development and the Stability of The production and supply chain, “According to google-translated report From the point of sale of the Chinese state Xinhua.
Besides, China too Adding 11 American companies At “List of unreliable entities“That the administration of Beijing said has violated market rules or contractual commitments. The Chinese Ministry of Commerce Adding 16 American entities to his export control list and said he implement export controls Of seven types of articles related to rare earths, including Samarium, Gadolinium and Terbium.
Beijing has also filed an official complaint against the United States with the World Trade Organization, the Ministry of Commerce confirmed in a releaseAffirming that Washington's pricing policy “seriously violates the WTO rules, seriously damaging the legitimate rights and interests of WTO members and seriously undermines the multilateral trade system based on rules and the international economic and commercial order”.
“China has played badly, they panicked – the only thing they cannot afford to do! “Said Trump on his Truth social media platform.
Beijing, who also entertained a tenuous commercial relationship with Washington under Trump's first term, had warned It would take “resolved countermeasures” to protect its own interests after the White House revealed its last scanning rates on Wednesday.
Other American trade partners had prevented the announcement of reprisals in hopes of additional negotiations, the European Union nevertheless expressing the desire to respond.
The American-Chinese Mutual Related Reads should have an impact on a commercial relationship worth 582.4 billion dollars in goods in 2024, According to the office of the US trade representative.
Analysts expect the protectionist trade policies of the United States to direct China to other business partners and see it implement new recovery measures in order to galvanize the economy. China has fought against a real estate crisis and a low feeling of consumers and businesses since the end of the Pandemic COVID-19.
Retisal prices in China announced on Friday in exacerbated world market decreases which had already been pushed by fears of inflationist, recession and global growth risks following the White House prices.
