China revenge on the tariffs on American goods after Trump’s move | Business and economy news
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China will impose 15 percent of coal and LNG imports from the USA from the United States for retaliation due to 10 percent of the Washington Chinese goods.
China will impose a 15 percent of coal and liquefied natural gas from the United States, in retaliation due to 10 percent of the levies in Chinese Robo Washington.
The Chinese Ministry of Finance also announced on Tuesday that there would be 10 percent of tariffs on imports from the US from raw oil, agricultural machines, large shift vehicles and trucks.
The new measures were the answer to the “unilateral tariff trip” by the US, it was said, and the United States ”.
Beijing’s tariffs, which enter into force next Monday, were announced shortly after Trump said he would hold an invitation with President XI Jinping in the next 24 hours.
On Saturday, US President Donald Trump announced major measures against major trade partners, including Canada and Mexico, and goods from China are facing an additional 10 percent of tariffs with the duties they are already toleration.
Trump said that the measures aimed at punishing countries for the failure of stopping the flow of unfathomable migrants and medicines, including Fentanil to the United States.
However, on Monday, he suspended his threat to Mexico and Canada tariffs, agreeing to a 30-day break in exchange for concessions at the border and implementation of crime with neighboring countries.
During his first term in 2018, Trump launched a brutal two-year trade war with China because of his massive American trade excess, with Tit-For-Tat Tariffs on hundreds of billions of dollars of goods from global supply chains and harming the world economy.
In order to end that trade war, China agreed in 2020 to spend an additional $ 200 billion a year on US goods, but the plan was disparaged by Coid Pandemia, and its annual trade deficit spread to $ 361 billion, according to Chinese customs data published last year months.
Trump warned that he could further increase the tariffs to China unless Beijing had undergone the flow of fental, a deadly opioid, to the US.
China called the problem of Fentanil America and said she would challenge the tariffs at the World Trade Organization and take other countermeasures, but also left the door open to talk.
