China deepens the trade war, increases retaliatory duties to imports from the US
China and the EU have to resist intimidation, he said.
Beijing. China has announced to increase duties For US goods to 125 percent, further deepening the trade war between the two largest economies of the world.
New duties will come into effect on Saturday.
At the same time, Beijing said that further increasing duties by the United States would « ignore » because importers no longer have economic reason to import US goods.
« The introduction of abnormally high duties by the US against China seriously violates the rules of international trade, fundamental economic laws and common sense, » the Customs Commission of the State Council said.
At the same time, the Chinese state media reported that Beijing will file a lawsuit against Washington for the new US trade organization for new US duties.
Call for the connection of China and the EU
Chinese President Si Jin-Pching called on Friday to the European Union (EU) to connect with Beijing in the fight against « one-sided bullying » after the duties US President Donald Trump have triggered chaos in the world markets.
For 90 days, Trump has frozen a increase in duties for most business partners, with the exception of China, whose duties have increased to 145 %. He escalated the trade war between the world’s two largest economies and has dampened a short recovery in the financial markets.
When the dollar has also weakened, Trump admitted that his policy increases moods and causes problems, but believes that turbulence in the world markets are only transient:
« In the end it will be a beautiful thing, » he said.
It described the EU as « very intelligent » as it abstained from retaliatory tariffs. Block boss Ursula von der leyen However, she warned that the Union was still working on extensive countermeasures. And they will introduce them if the US duties come into force after 90 days. « The EU was ready to announce retaliatory measures. And then they learned what we did in connection with China, » Trump said.
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French president Emmanuel Macron He called on the EU to continue preparing measures to combat duties that are only suspended but not canceled.
Chinese President met Spanish Prime Minister Pedro Sánchez on Friday, who is visited in an Asian country.
The Chinese state media quoted Jin-Pching, who said that China and the EU should simply join.
« China and Europe should fulfill their international commitments and resist one -sided bullying together, » he said.
Jin-pching stressed that it would not only « protect their own legitimate rights and interests, but also ensured international justice ».
After meeting with President Si Jin-Pching in Beijing, Sánchez said that business tensions should not prevent cooperation between the European Union and China.
« Both Spain and Europe have a significant commercial deficit with China, which we have to work, » Sánchez said at a press conference in Beijing, adding that Europe « must not allow commercial tensions to be in the way of potential growth of relations between China and Spain and the EU ».
Trump’s plans
Trump says he wants to change the organization of the world economy by force manufacturers to settle in the US and to reduce the country’s obstacles to US goods.
Critics claim that Trump’s policy causes chaos in companies that have complex supplier chains, alienates nearby allies and increasing goods for US consumers.
The EU welcomed the suspension of a increase in tariffs in the US and offered its own olive branch when it postponed its duties to US goods worth EUR 20 billion for 90 days to give space to negotiations.
But the financial boss said that if negotiations with Trump did not bring the desired result, he has a « wide range of countermeasures ». For example, Brussels could introduce income fees from digital services that would apply to the whole block, she said.
Trump also warned that duties could return after 90 days. « If we cannot conclude an agreement we want to conclude, then we would come back where we were, » he said.
