China announced on Friday that it will impose a 34 percent tariff on imports of all American products that start on April 10, which is part of a set of reprisals after the “Liberation Day” list of US President Donald Trump.
The new customs tariff is identical to the 34 percent American “mutual” tariff rate on Chinese exports that Trump requested this week. In notice, the Ministry of Trade in Beijing said that it will impose more export controls On the rare groundThey are materials used in high -tech products such as computer chips and electric vehicle batteries.
In addition, the Chinese government said it added 27 companies to the lists of companies subject to commercial sanctions or export controls. Among them, 16 are undergoing the export of goods “double use”. Hight Point Aerotechnologies, the Defense Technology Company, and the Universal Logistics Holding, a transportation and logistical services company circulating for the public, was among those listed.
Beijing also announced that it had filed a lawsuit with the World Trade Organization on the issue of customs tariffs.
The Ministry of Commerce said: “The imposition of the United States of the so -called” mutual definitions “seriously violates the rules of the World Trade Organization, and seriously destroys the legitimate rights and interests of the members of the World Trade Organization, and seriously undermines the multilateral trading system based on the rules and the international economic and commercial system.” She said, “It is a typical, typical practice that exposes the stability of the global economic and commercial system. China is strongly opposed.”
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Chinese definitions on American coal, natural gas
In February, China announced a 15 percent tariff for imports of coal and liquefied natural gas products from the United States, adding a 10 percent tariff to crude oil, agricultural machines and cars with large engines. The latest definitions apply to all the products made in the United States, according to a statement issued by the State Council tariff committee of the Ministry of Finance.
Trump’s latest introductory height on American imports are convincing countries and industries for stampede in order to obtain fears of global recession.
“The recent advertisements will have significant implications for global trade and economic growth,” the World Trade Organization said in a statement on Thursday. “While the situation is developing rapidly, our initial estimates indicate that these measures, in addition to those that have been presented since the beginning of the year, can lead to a total contraction of about one percent in global trade sizes goods this year, which represents a declining review of nearly four percentage points of previous projections.”
While China has been subjected to great definitions, it is an open question whether other Asian countries can take advantage of the situation in trade with Washington in the United States, which strikes India, Bangladesh, Cambodia, Malaysia and Vietnam with a tariff ranging from 27 percent to 49 percent.
Days before Trump announced, China, Japan and South Korea held its first dialogue in five years.
At the meeting, the ministers of commercial countries agreed to accelerate talks on the South Korean-China-Japan agreement agreement to strengthen “regional and global trade”, according to a statement issued after the meeting.
Watch | A deeper look at the latest Trump tariff:
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