On Tuesday, China on Tuesday to tariffs on imports from the United States in a quick response to new US tariffs about Chinese products, renewing a commercial war between the two main economies in the world when President Donald Trump sought Punish China for not stopping the flow of illicit drugs.
The additional Trump rate in all Chinese imports in the USA.
In a matter of minutes, China’s Ministry of Finance said it would impose 15 percent levies for the US coal and LNG. UU. And 10 percent for crude oil, agricultural equipment and some cars.
The new tariffs on US exports will begin on February 10, the ministry said.
Separately, the Chinese Ministry of Commerce and its Customs Administration said the country is imposing export controls in Tungsten, Tellurium, Ruthenium, Molybdenum and articles related to rinking to “safeguard national security interests.”
Trump suspended his threat of 25 percent tariffs in Mexico and Canada on Monday in the last minute, agreeing a 30 -day pause in exchange for concessions on the application of the border and crime with the two neighboring countries.
But there was no such postponement for China, and a White House spokesman said Trump would not talk to Chinese President Xi Jinping until later in the week.
“The commercial war is in the early stages, so the probability of additional rates is high,” said Oxford Economics in a note, since it degraded its prognosis of economic growth in China.
American tariffs about Chinese imports enter into force after Trump represses Canada and Mexico
American tariffs of 10 percent on Chinese imports entered into force on Tuesday, risking a renewed commercial war between the two main economies in the world when President Donald Trump punishes China for not stopping the flow of illicit drugs.
Trump suspended his threat of 25 percent tariffs in Mexico and Canada on Monday in the last minute, agreeing a 30 -day pause in exchange for concessions on the application of the border and crime with the two neighboring countries.
But there was no such postponement for China, with new levies in force at 12:01 am et on Tuesday (0501 GMT).
A White House spokesman said Trump would not talk to Chinese President Xi Jinping until later in the week.
During his first term in 2018, Trump began a brutal two -year trade war with China on his mass commercial surplus of the United States, with Tit tariffs per eye in hundreds of billions of dollars in goods that change the supply chains Global and damage the world economy.
To finish that commercial war, China agreed on 2020 to Chinese customs data published last month.
“The commercial war is in the early stages, so the probability of additional rates is high,” said Oxford Economics in a note, since it degraded its prognosis of economic growth in China.
Trump warned that it could further increase tariffs on China unless Beijing has inclined fentanyl flow, a deadly opioid, in the United States. “With luck, China will stop sending us fentanil, and if they are not, the tariffs will be substantially higher,” he said Monday.
China has called the problem of Fentanilo América and said it would challenge tariffs in the World Trade Organization and take other countermeasures, but also left the door open for conversations.
Neighboring offers
There was relief in Ottawa and Mexico City, as well as in global financial markets, after agreements to avoid strong tariffs in Canada and Mexico.
Both Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum said they had agreed to strengthen border application efforts in response to Trump’s demand to take energetic measures against immigration and drug smuggling. That would pause the rates of 25 percent that will take effect on Tuesday for 30 days.
Canada agreed to deploy new technologies and personnel along its border with the United States and launch cooperative efforts to combat organized crime, fentanyl smuggling and money laundering.
Mexico agreed to reinforce its northern border with 10,000 members of the National Guard to stop the illegal migration flow and drugs.
The United States also promised to avoid trafficking in high -power weapons to Mexico, said Sheinbaum.
“As president, it is my responsibility to guarantee the security of all Americans, and I am doing exactly that. I am very satisfied with this initial result, ”Trump said on social networks.
After talking on the phone with both leaders, Trump said he would try to negotiate economic agreements during the next month with the two largest US business partners, whose economies have been closely intertwined with the United States since a historic free trade agreement was reached in 1990s.
The last turn in the saga sent the Canadian dollar flying after falling to its lowest in more than two decades. The news also gave us the futures of the shares index an elevator after a day of losses on Wall Street, and sent the lowest oil prices. The industry groups, fearful of the interrupted supply chains, welcomed the pause.
“That is a very encouraging news,” said Chris Davison, who runs a commercial group of Canola Canadian producers. “We have a highly integrated industry that benefits both countries.” Trump suggested on Sunday that the European Union of 27 nations would be its next goal, but did not say when.
EU leaders at an informal summit in Brussels on Monday said Europe would be prepared to defend themselves if the United States imposes rates, but also requested reason and negotiation. The United States is the EU’s largest trade and investment partner.
Trump hinted that Great Britain, who left the EU in 2020, could be tariffs.
Trump recognized during the weekend that his tariffs could cause a short -term pain to US consumers, but says they are necessary to curb immigration and narcotic traffic and stimulate national industries.
The rates as originally planned would cover almost half of all imports from the USA and would require the United States to double more of their own manufacturing output to cover the gap, an unfeasible task in the short term, they wrote ING.
Other analysts said that tariffs could lead Canada and Mexico to the recession and trigger the “stagflation”: high inflation, stagnant growth and unemployment high, at home.
Trump to attack the UN Human Rights Council, the UNRWA Palestinian Help Agency
The president of the United States, Donald Trump, is expected to stop the United States commitment to the United Nations Human Rights Council and continue with the financing of the UN Palestinian Aid Agency UNRWA, A White House official said.
The measure coincides with a visit to Washington by the Israeli Prime Minister Benjamin Netanyahu, who has long criticized Unrwa, accusing the anti-Israel incitement agency and its staff to be “involved in terrorist activities against Israel.”
The United Nations and UNRWA did not immediately respond to comments requests.
During Trump’s first mandate, 2017-2021, he also cut funds for UNRWA, questioned his value, saying that the Palestinians had to accept renewing peace conversations with Israel and asking for not specified reforms.
Trump’s first administration also resigned from the Human Rights Council of 47 members in the middle of a three -year period about what he called chronic bias against Israel and the lack of reform. The United States is not currently a gin headquarters member.
According to former Democratic President Joe Biden, the United States was re-elected and fulfilled a period of 2022-2024.
A working group of the Human Rights Council must review the United States Human Rights Registry in August, a process that all countries suffer every few years. While the Council does not have a legally binding power, its debates have political weight and criticisms can increase global pressure on governments to change the course.
Since he assumed the position for a second term on January 20, Trump ordered that the United States retire from the World Health Organization and the Climate Agreement of Paris, also steps he took during his first term in office.
