Hong Kong – China immediately retaliate on Tuesday when a 10% rate of the United States over all Chinese products came into force, announcing a series of measures that include their own taxes from 10% to 15% in some US products.
As of February 10, China will impose an additional 15% rate in carbon and liquefied natural gas and a 10% rate on crude oil, agricultural machinery, large -trip cars and trucks, said the government said .
The Chinese announcement occurred minutes after the US rate. The assets of Canada and Mexico.
The failure of Tit-Forfor Tat rates with China increases the risk of a spiral commercial war between the two largest economies in the world.
“This increase in unilateral rates on the American side seriously violates the rules of the World Trade Organization, does nothing to solve its own problems and undermines the economic and commercial cooperation of China -EE. UU. A statement.
In addition, Beijing announced an investigation into Google for alleged antimonizing violations and export controls in articles related to tungsten and other rare earth elements.
He also said that the American gene sequencing company and PVH Corp., the owner of Calvin Klein and Tommy Hilfiger, would be added to the “list of unreliable entities”, which restricts its ability to operate in China.
Trump announced the 10% rate of China on Saturday along with 25% tariffs on goods imported from Canada and Mexico, citing border security, as well as the illicit international flow of drugs such as fentanyl. Although Canadian and Mexican tariffs have stopped for 30 days after conversations with the leaders of those countries, it does not seem to have been an agreement with China.
Trump is expected to talk to Chinese leader Xi Jinping “in the next few days,” the White House Secretary, Karoline Leavitt, said on Monday.
Continental Chinese markets remain closed for the lunar holidays of the New Year. Other Asia-Pacific markets rose early in the news that Canadian and Mexican tariffs had suspended, CNBC reported.
Beijing said he had sent the tariff measures of the United States to the World Trade Organization “to safeguard their legitimate rights and interests.”
The additional tariff of the United States “seriously violates WTO and is an atrocious act, which represents a typical unilateralism and commercial protectionism,” said a spokesman for the China Ministry of Commerce.
The United States has blocked the appointments of appeal judges to the World Trade Organization from Trump’s first mandate, leaving it largely unable to mediate in international commercial disputes. But China could still use a lawsuit to gather international support against US tariffs.
“The United States approach severely undermines the multilateral trade system based on rules, damages the basis of the United States economic and commercial cooperation, and interrupts the stability of global industrial and supply chains,” said the Ministry of China trade.
