After Trump’s move, China takes vengeance with tariffs on American goods business and economy news
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China will impose a tariff of 15 percent on the import of coal and LNG from the US in vengeance for 10 percent of Washington’s levy on Chinese goods.
China will put a 15 percent tariff on imports of coal and liquidized natural gas from the United States, in vengeance for 10 percent of Washington’s levy on Chinese goods.
China’s Finance Ministry also announced on Tuesday that crude oil, agricultural machinery, large displacement vehicles and pick-up trucks would have 10 percent tariffs on imports from the US.
New measures were in response to the US by the US in response to “unilateral tariff hike”, saying that Washington’s decision “Washington seriously violates the rules of the Organization, does nothing to solve its problems, and China and China and The general economic and trade cooperation between China and the United States “.
Beijing’s tariffs, which are applicable on next Monday, were announced shortly after Trump that he would hold a call with President Xi Jinping in the next 24 hours.
On Saturday, US President Donald Trump announced extensive measures against major trade partners including Canada and Mexico, in which goods from China were facing additional 10 percent tariffs on top of duties that they already tolerate.
Trump said that measures are the purpose of punishing countries to fail to stop the flow of migrants and drugs, including Fantenal in the US.
However, on Monday, he suspended his threat of tariffs on Mexico and Canada, which agreed to a 30-day stay in exchange for concessions on border and crime enforcement with neighboring countries.
During his first term in 2018, Trump launched a two-year trade war with China on his massive American trade surplus, damaging global supply chains with tight-for-tat tariffs on hundreds of billions of dollars goods Reacted and damaged the world economy.
To end that trade war, China agreed to spend an additional $ 200bn in a year on American goods in 2020, but the plan derailed by Kovid epidemic and its annual trade deficit released last month According to Chinese customs data, $ 361bn was increased.
Trump warned that he could increase the tariff on China until Beijing left the flow of a deadly Opioid, Phentineel in the US.
China has called the problem of Phantenile America and said that it will challenge tariffs in the World Trade Organization and take other counterers, but will also leave the door open for talks.
