7 hours agoChina reacts to U.S. counters, raises prices for American goods to 125 percent
Periskopi(a year ago)
(a year ago)China has announced it will raise additional tariffs for American goods to 125 percent, a significant increase from 84 percent previously. This change is a response to measures taken by the United States that, according to Chinese authorities, seriously harm China's interests in international trade, broadcast [...]
The Chinese Finance Ministry has clarified that new tariffs will take effect by Saturday, making it an immediate and important step in China's trade policy. She stressed that if the United States continues to act in order to violate China's interests, the Beijing government will be obliged to take controversial and “measures to fight to the end” for its defence.
China has expressed deep concern about the way the US is using tariffs as a means to impose economic pressure, calling it a serious violation of international trade regulations, fundamental laws of economics and common principles of trade justice, writes Skynews.
The ministry has stressed that this is a form of mutual harassment and pressure that has no stable basis in a related global economy.
The harsh reaction comes after an American President Donald Trump's statement, which announced a 90-day pause for additional tariffs to most countries but also decided to raise rates on China to 145 percent.
Otherwise, this change has sparked global concerns about the possibility of a further transition of trade tensions between the world's two largest economies.
