7 hours agoChina Avenges Trump tariffs
Periskopi(a year ago)
(a year ago)China will set tariffs worth 84 per cent on American goods, and these measures will take effect on 10 April, the Chinese Ministry of Finance said, escalation the trade struggle between the world's two largest economies further. The announcement from China comes on the day they entered into force [...]
The announcement from China comes on the day the tariffs imposed by US President Donald Trump took effect on the imports of several countries, including China. Washington has imposed a 104 per cent fee on Chinese goods, followed Periscope.
Trump tariffs, which have hit most of the world's states with a base fee of 10 percent and higher rates of larger trading partners, have shaken global markets and raised fears of recession.
Trump raised tariffs to Chinese imports in response to the countermass taken by Beijing, reports Radio Free Europe.
Earlier in the day, China warned it would continue to take new measures if Trump continued hitting Chinese goods.
Beijing has also told the World Trade Organization that US tariffs threaten to destabilise global trade.
“The site has escalated dangerously... As one of the affected members, China expresses deep concern and strong opposition to this reckless” movement, China said in a statement sent to this organisation.
On April 2nd, when he announced the tariffs, Trump said that for decades his state had been treated unjustly by “enemies and enemies alike” in terms of commercial affairs, creating a major trade imbalance.
