“The Chinese government emphasized that they protect the national economic interests in the context of trade escalation”, – WRITE: www.radiosvoboda.org
New customs rates will increase from the current 34%.
The Chinese government emphasized that they protect the national economic interests in the context of trade escalation.
“China calls the US to immediately correct its wrong practice, abolish all unilateral tariff measures against China and properly resolve differences with China through equal dialogue based on mutual respect,” the statement said.
In his turn, US Finance Minister Scott Bessent said that China’s decision to introduce 84 percent tariffs in response to the United States is unsuccessful and losing to Beijing.
“I think it is unfortunate that the Chinese do not really want to negotiate because they are the worst violators in the international trading system,” Bessent said in an interview with Fox Business Network.
Beijing’s decision was a recent increase in tariffs for Chinese goods introduced by US President Donald Trump. New United States duties came into force only a few hours ago.
Earlier, China imposed a 34 percent duty on all American goods. This corresponded to the level before Trump announced an increase in duties for China to 104 percent.
The Chinese Ministry of Commerce called the threat of Trump to raise the “mistake of mistake”, which “again exposes the blackmailing of the United States.”
Trump announced the introduction of duties on April 2, calling this day “Liberation Day” of America and said that he would be remembered “as the Renaissance Day of the American Industry, the day of America’s fate was returned, and the day we started to make America again rich again.”
Declaring the tariffs, the President complained that the United States had undergone bad treatment of “friends and enemies” in trade, which created a huge trade imbalance.
Stock markets worldwide have fallen against the background of the introduction of duties that, as economists warned, will raise prices for goods that consumers in the US buy daily. Countries for which duties have been applied are also likely to response.
