On Friday, Beijing increased its tariffs on US imports to 125 percent, as it tied against US President Donald Trump’s decision to contact the duties of Chinese goods to 145 percent, raising the risks in a trade war that threatens global supply chains. Anti -measures apply on Saturday.
This rise comes after the White House maintained pressure on the second economy in the world and the second largest US import provider by distinguishing to increase an additional tariff, after stopping stopping most of the “mutual” duties imposed on dozens of other countries for 90 days.
“The United States’s imposition of high definitions abnormally on China is seriously violating the rules of international and economic trade, basic economic laws and a proper sense, which is bullying and coercion unilaterally,” the Chinese Finance Ministry said in a statement.
Beijing indicated that this will be the last time you agree with the United States, if Trump performs his duties above. But she left the door open to China to turn into other types of revenge.
“Even if the United States continues to impose a higher tariff, it will not have any economic importance and will decrease as a joke in the history of the global economy.”
The American -Chinese trade war is in full swing, as none of the two sides showed signs of retreat. Andrew Zhang explains how China is placed to accommodate the trauma of American definitions and what this global economic turmoil in its position in the global order. Pictures provided by Getty Images, Canadian press and Reuters.
Trump told the White House correspondents on Thursday that he believed the United States could agree with China and said he respects Chinese President Xi Jinping.
“In a real sense, he was a friend of mine for a long period of time, and I think we will finally finish working on something very good for both countries,” he said.
She told Xinhua that China and the European Union “in his first general statements about Trump’s tariff, told Spanish Prime Minister Pedro Sanchez at a meeting in Beijing on Friday that China and the European Union” should jointly oppose bullying work. “
“There are no winners in a commercial war,” the Chinese leader told his guest, adding that by behaving together, the second largest economy in the world and the 27 -year -old European Trade bloc can help support the “global system based on rules.”
American chip makers who suffer from external sources of reprisals in China will be exempt from US imports, according to a notice issued by the Chinese CSI Industry Association (CSIA) on Friday. Looking at the specialized and multi -country nature of chip supplies chains, there was uncertainty inside the industry on how to apply definitions to chips’s imports.
For American chip designers such as Qualcomm and AMD, which is made by the external manufacturing of Taiwanese Chipmake TSMC, the Chinese customs authorities will classify the place of origin of these chips like Taiwan, according to ETOP, an information platform and a forum for Chinese chips.
This means that the companies that are taking China to import such chips to force the Chinese revenge tariff for US imports, Etop said at the expense of its WeChat.
Beijing has long poured subsidies in strengthening its domestic production of mature knots, and is often called ancient connectors.
“It appears that the Chinese for United States to use external sources is a calculated step to maintain economic stability and encourage foreign investment in local manufacturing,” said Michael Ashley Shuelman, the chief investment employee of Running Point Capital.
Vietnam, Japan is preparing to involve the White House
The state -run Chengua News Agency said on Friday, after the Chinese president pledged this week to deepen “comprehensive cooperation” with China’s neighbors, after the Chinese president intended to deepen “comprehensive cooperation” that Shi will visit Vietnam from April 14 to 15, and Malaysia and Cambodia from April 15 to 18.
In a stunning reflection, Trump said on Wednesday that he would temporarily reduce the huge duties that he just imposed on dozens of other countries while increasing pressure on China.
Trump’s status stopped for 90 days on the “Tahrir Day” tariff and a 10 percent basic tariff for more than 75 countries instead.
Many other Asian countries, including Vietnam, were looking at some of the highest tariffs before stopping.
In the hope of avoiding punishing the American definitions, Vietnam is ready to eliminate Chinese goods that are shipped to the United States through its territory and will tighten controls on sensitive exports to China, according to a person familiar with the matter and a government document seen by Reuters.
Vietnam had a 46 percent tariff as part of Salvo Trump. While the customs tariff was suspended for a period of 90 days, the two countries agreed to start talks after the Vietnamese Deputy Prime Minister met the American Trade Representative on Wednesday.
Vietnam, who depends on export, hopes that duties will drop to a range of 22 to 28 percent, if not less, tell three people aware of the Reuters.
The “mutual” tariff imposed on Japan was reduced to a global rate by 10 percent, a decrease of the first 24 percent, during a 90 -day stoppage period. The 25 percent fees still apply to car imports.
The stock markets closed a sharp decrease on Thursday after US President Donald Trump explained a joint tariff rate of 145 percent against China. I was angry with the ongoing chaos Beijing and pushed more accusations of manipulating the deliberate market.
On Friday, Japanese Prime Minister Shigro Ishiba established a work squad to oversee commercial negotiations with the United States, headed by close Minister of Economy and Economy Riozi Akazawa, who said the local media will visit Washington next week.
US Treasury Secretary, Scott Beesen and American Trade Representative, Jameson Jarir, will meet the tariff talks on April 17, according to the broadcaster on Friday.
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