The 84 percent tariffs announced by China on all products imported from the United States. Begin to be applied today amid trade tensions between the world’s two largest economies.
The Customs of the Asian giant notified about the entry into force of these tariffs and specified the flexibilities in this application for the so-called “goods in transit” until May 13. Beijing was responding to U.S. President Donald Trump’s escalation of tariffs on Chinese goods that now total 125 percent in total.
In the midst of the tariff war unleashed by Trump. The Ministry of Commerce of the Asian giant also included another 12 U.S. companies on the export control list. Which translates into the prohibition of commercial exchange of dual-use items of those companies.
In addition, China sued the United States under the WTO dispute settlement mechanism for the latest tariff measures.
Trump announced another tariff shift the day before. He paused his “reciprocal” tariffs for 90 days, except for China. Which raised them to 125 percent. He wrote on his Truth Social network that the Asian nation has shown disrespect towards world markets.
For that reason, it decided to increase “the tariff charged to China by the United States of America to 125 percent, with immediate effect,” it emphasized on the platform.
Beijing did not bow to Trump’s threats and responded to the “reciprocal” tariffs with several measures. Beyond the imposition of levies on US products. The Chinese Ministry of Commerce said yesterday that the trade deficit with the United States is the result of structural factors and comparative advantages between the two countries.
The ministry emphasized that this phenomenon is not due to deliberate practices on the part of Beijing, one of the excuses used by the White House to impose tariffs of up to 125 percent on Chinese goods.
According to the authorities, in order to assess the balance of bilateral trade. The balance of goods should not be considered alone. In trade in services, the United States has a significant advantage. Being the main source of China’s services trade deficit, the ministry said.
Moreover according to Beijing, by including goods, services and local sales of domestic companies. The benefits of trade between the two countries are more or less balanced. According to China, although there are natural differences between two economies with different systems and stages of development. The essential thing is to respect each side’s core interests and resolve problems through dialogue.
With information from Prensa Latina
Translated by Aliani Rojas Fernández
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