The additional tariffs of the United States on Chinese imports will reach 104 percent on Wednesday, said the White House. AFPWhile Washington bends the planned action after Beijing promised a “fight until the end” in the encumbrances.
The president of the United States, Donald Trump, promised an additional rate of 50 percent on China’s goods if Beijing did not retract the next reprisals, and the White House confirmed that Trump will proceed with this action, carrying the additional general tasks this year to 104pc.
China promised to “fight until the end” against the new rates of 50 percent threatened by Trump, which further aggravated a commercial war that has already cleaned billions of global markets.
Trump has overturned the world economy with radical tariffs that have raised the spectrum of an international recession, but has ruled out any pause in its aggressive commercial policy despite a dramatic market sale.
Beijing, Washington’s main economic rival, but also a key trade partner, responded by announcing his own duties of 34 pieces about US goods to enter into force on Thursday, deepening a confrontation between the two largest economies in the world.
The rapid retaliation of China caused a new Trump warning that additional taxes would impose if Beijing refused to stop retreating against his barrage of tariffs, a movement that would boost the general taxes of Chinese products at 104pc.
“I have great respect for China, but they can’t do this,” Trump said in the White House.
“We are going to have an opportunity in this … I will tell you what, it is an honor to do it.”
China responded quickly, exploiting what he called “blackmail” for the United States and saying that “I would never accept” those rates.
“If the United States insists on following its own way, China will fight it until the end,” said a spokesman for the Beijing Ministry of Commerce.
“If the United States increases its tariff measures, China will decide to safeguard their own rights and interests,” the ministry said.
But Beijing also reiterated that he was looking for “dialogue” with Washington, and his opinion that “there were no winners in a commercial war.”
Market agitation
Trump tariffs have shaken global markets.
Hang Seng of Hong Kong collapsed at 13.2pc on Monday, his worst day from the Asian financial crisis, before recovering some of those losses in the opening trade on Tuesday.
Wall Street’s stocks ended below after a volatile session, with the Dow and the S&P 500 ending.
The actions in Thailand, Indonesia and Vietnam, a key export center, also sank on Tuesday.
And in Singapore’s financial power, Prime Minister Lawrence Wong told Parliament that his government was “very disappointed by the move of the United States.”
“These are not actions that one makes a friend.”
Billion dollars have eliminated combined assessments of the stock market in recent sessions.
Trump doubled on Monday, saying that “I was not looking” any pause in the implementation of the rate.
He also discarded any meeting with China on tariffs, but said that the United States was ready for conversations with any country willing to negotiate.
After the actions took a hammer in Shanghai, the Central Bank of China issued a statement before the negotiation resumed on Tuesday to underline that it was behind a sovereign fund, since it buys fundamental funds in the stock exchange to stabilize the market.
With investors looking for a relief from the ruinous commercial war, the actions in Tokyo jumped on Tuesday after the secretary of the Treasury, Scott Besent, suggested in an interview with Fox News that Japan would obtain “priority” in negotiations on US tariffs “just because they advanced very quickly.”
A “baseline” tariff of 10 percent on US imports around the world entered into force on Saturday, and a series of countries will be affected by the highest tasks as of Wednesday, including the 34pc tax for Chinese products and 20 percent for EU products.
