Beijing jacks up tariffs on American goods to 84% in response to Trump’s 104% duties on China imports
China has once again pledged to “fight to the end” on Wednesday in an escalating trade war with the United States, as it announced that it would raise the definitions of American goods to 84 % of Thursday.
Beijing also added a set of counter -measures after US President Donald Trump raised the total tariff for imports from China to 104 %.
“If the United States insists on increasing the escalation of economic and commercial restrictions, then China has the will of the company and the abundant means to take necessary counter -measures and fight to the end.” The Ministry of Trade wrote in a statement that provides a white paper on trade with the United States.
The government refused to say whether it would negotiate with the White House, as many other countries began.
On Friday, China announced a 34 % tariff for all the goods imported from the United States, export controls on rare ground minerals, and a large number of other measures in response to Trump’s “liberation” definitions. Then Trump added an additional tariff of 50 % on the goods from China, saying that negotiations with them had been terminated.
To date, China has not been interested in bargaining. “If the United States really wants to solve issues through dialogue and negotiation, it must adopt the position of equality, respect and mutual benefit,” said Lin Jian, a Foreign Ministry spokesman.
The paper says that the United States did not make the promises it made in the commercial deal for the first stage during the first period of Trump. For example, he said that an American law prohibits Tiktok unless it is sold by his Chinese mother company violating a promise that he “does not press the other side to transfer technology to its members.”
Trump signed an order to keep Tiktok candidacy for another 75 days last week after a possible deal to sell the application to American owners was put on ice. Representatives by BYTEDANCE The White House called for indicating that China no longer agrees to the deal so that there are negotiations on trade and definitions.
The paper also argued that taking into account trade in the local Chinese services and branches of American companies, the economic exchange between the two countries “is almost balanced.”
She says China had a deficit with the United States with a value of $ 26.57 billion in 2023, which consists of industries such as insurance, banking services and accounting. Trump’s tariff is designed to close the trade deficit with foreign countries, but it is only calculated based on deals in the physical and tangible goods.
The statement issued by the Chinese Ministry of Commerce said: “History and facts have proven that the increase in the United States in definitions will not solve its own problems.” “Instead, it will lead to sharp fluctuations in the financial markets, push inflation pressure in the United States, weaken the American industrial base and increase the risk of American economic recession, which will not eventually lead to counterproductive results.
This story was originally appeared on Fortune.com
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2025-04-09 11:57:00
