China said It increases its prices on American products to 84%, compared to 34% previously announced, after the import rights of President Trump on Chinese good entered into force today at a rate of 104%.
The wide prices of Mr. Trump, which apply to imports of almost all nations, began after midnight oriental in the United States
China’s announcement signals, Beijing, does not back up in a world trade war launched by Mr. Trump’s decision on April 2 to take “reciprocal rates” from Almost every nation. In response to this announcement, China said it would thwart by displaying the same right – 34% at the time – on American imports, which prompted Mr. Trump to slap an additional 50% tariff on Chinese imports.
With the prices announced previously, Mr. Trump increased the total price rate on products manufactured in China at 104%, costs which will be paid by American companies which import products from China. These companies are likely to pass on the cost of all or certain import rights to American consumers, from price hiking to everything, from iphones to clothes made in China, according to experts.
In a statement of April 9, China said that Mr. Trump’s decision to add another rate of 50% such as an “error on an error”. He also described Mr. Trump’s prices as an example of “unilateralism, protectionism and economic intimidation”.
Beijing Wednesday’s latest measures include the addition of 11 American companies to a so -called “unreliable entities” list that would prevent Chinese companies from selling them double -use goods. Among the companies are American photonics, and Synexxus, which both work with the American army.
Until now, China has not seem interested in negotiation. “If the United States really wants to solve problems through dialogue and negotiation, it should adopt an attitude of equality, respect and mutual profit,” the spokesman for the Ministry of Foreign Affairs said on Wednesday.
China was the third export market for the United States in 2023 after Canada and Mexico, with $ 145 billion in the Asian nation that year, according to to the American-Chinese Affairs Council. Oil seeds and cereals are the main export that the United States sends in China, followed by oil and gas.
EU also struck
In addition, the European Union announced on Wednesday its own reprisal measures against the United States, the commercial block of 27 countries announced prices on more than $ 22 billion in American products, including soy, motorcycles and beauty products, according to AFP.
“The EU considers unjustified and harmful American prices, causing economic damage to both parties, as well as the world economy,” the European Commission said in a statement published after the EU member states approved the measures.
The Trump administration imposed 25% prices on EU imported vehicles, as well as a reciprocal tax of 20%.
