China asks the US full cancellation of reciprocal tariffs
China has appealed to the US this Sunday to “completely cancel” the so-called reciprocal tariffs after the US decision on Friday to exempt high technology products from that country.
« We have made the United States (…) take an important step to correct their mistakes, completely cancel the wrong practice of reciprocal tariffs and return to the right path of mutual respect, » said a spokesman for the China Ministry of Commerce, in a statement quoted by the French news agency AFP.
In a trade war with China that is worrying world financial markets, the US exempted on Friday, smartphones, computers and other Chinese electronic products from recent customs overflows imposed by President Donald Trump.
This Sunday, in a position cited by AFP, the China Ministry of Commerce dubbed the American measure as a « small step », adding that it was « evaluating its impact. »
According to a US customs service memorandum released on Friday night, these exemptions apply in particular to Electronic Products from China to the US, a country that raised the general customs to that Asian market to 145%.
The American technology giant Apple, for example, manufactures its iPhones in China.
Beijing retaliated the US decision on Friday, increasing its customs rates on all US products to 125%, as it came into force on Saturday.
