Chinese and American flags are visibly printed on paper on this illustration taken on January 27.
Dado Ruvic | Reuters
Beijing – China is ready to do more in solving the concern of the White House due to the illegal trade of Fentanil, but it will be a “different thing” if a current drug discussion facilitates more US tariffs to the second largest economy, the Chinese Foreign Ministry officer said Wednesday.
Washington was supposed to “say a big thank you” to China for what she did to limit the trade in Fentanil in the United States, an official said through an official English translation, claiming that the White House did not appreciate the effort and instead collected duties on Chinese goods this year.
Ever since he assumed his post in January, US President Donald Trump has Increased tariffs on Chinese goods by 20% Based on the alleged role of the country in the US fentanil crisis. Dependent drug, precursors mostly produced in China and Mexico, have led to tens of thousands of deaths from an overdose every year in the United States
The White House did not immediately respond to the CNBC comment request.
Earlier this month the Chinese government published a white paper to publish your efforts to reduce the production and export of the fental precursor in recent years. The official did not directly answer the question of whether China would stop his recent efforts to limit such trade.
Under the management of Biden, the US and China said that Fentanil was one of the few areas where the two countries could cooperate. Both sides HELD READED TALKS IN BEKING Last year on the topic.
Trump earlier this year indicated that he could also use tariffs as a way to press China to force Byteno based in Beijing to sell Tiktok, which opposes against Early April stay available in the US -U
Trump emphasized Tariffs as a way to reduce US trade deficit with China during its first Presidency. Immediately before the start of the covid-19 pandemic, two sides reached the “first phase” trade agreement, which demanded that Beijing increase its purchase of US goods. The data shows us that a trade deficit with China He narrowed to $ 295.4 billion in 2024, with $ 346.83 billion in 2016, just in front of Trump’s first term.
But the trade differences continued from January on the beginning of the second term of the White House leader. The average effective American tariff rate on Chinese goods should now reach 33%, which is about 13% before Trump has started his latest term, according to the main Chinese economist Nomura Ting Lu.
Beijing responded to the latest American tariffs with the target duties on energy and agricultural products, at the same time splashing the limitations of the exports of critical minerals that are now needed. The Chinese Ministry of Trade has also been added to several US companies, mainly on airline or defense, to lists that limit their business business ability.
An official of the Foreign Ministry said on Wednesday that the countermeasures of China were “legitimate action” to protect their own interests.
Allianz estimates that an additional 20% of US tariffs to Chinese goods would hit the growth of Chinese GDP by 0.6 percentage points this year and the following. However, the company is still expecting that the Chinese economy will grow by 4.6% this year and 4.2% in 2026. Based on the assumption that the stimulus can alleviate the tariff influence.
“I would usually say that the retaliation is not so strong, maybe leaving space for negotiations,” said Francoise Huang, a higher economist for Asian-Pacific and global trade trade trade, she said in an interview with CNBC last week.
