New American tariffs “are a common practice of unilateral intimidation,” according to Beijing.
China’s authorities from the United States are seeking to cancel new duties and promise to accept countermeasures in response to protect their own interests. This is stated in a statement published by the Ministry of Trade of China on Thursday, April 3.
“The United States has announced that they will introduce the” mutual tariff “for all its trading partners. China is determined to oppose it and will accept a strict counter -counters to protect their own rights and interests,” the document said.
The department called President Donald Trump’s decision to introduce duties against US trade partners, “one step that ignored the balance of interests, reached in recent years during multilateral trade negotiations, and the fact that countries have received significant benefits from international trade for a long time.”
Beijing believes that new US tariffs “do not comply with the policies of international trade, cause serious harm to the legal rights and interests of the partial parties and a common skill of a vibrant threat.”
“History has proven that increasing tariffs does not solve its own problems of America. Not only can it harm American its own interests, but also dangerous global economic development and labor stability and supply chain. There are no winners and no way for protectionism. China calls for the United States are immediately a cancel to solve disagreements with trading partners through an equal dialogue, “the statement reports.
Remember, on April 2, US President Donald Trump announced the introduction of major duties to imported goods from most countries of the world. He called it America’s “Day of Liberation”.
As Reuters recalled, 34%duty will be introduced for China in addition to 20%, which Trump introduced earlier this year, as a result of which the total cost of new fees will be up to 54%, and approaches the figure of 60%.
Chinese exporters, such as exports from any other economy, will encounter a 10% main tariff, as part of a new 34% tariff, for almost all goods provided to the United States, from Saturday before the other higher duty Trump announced yesterday.
The head of the White House also signed a command that closed a trading loophole, which allowed the USA -Free duty to import the low -bags of the United States from China and Hong Kong.
EU has replied to Trump’s new tariffs
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.