China increases counter-tariffs to US goods to 125 percent
China follows up in the trade dispute with the USA: The counter-tariffs on US goods are now to increase to 125 percent, as the customs commission of the Chinese State Council announced. If the government in Washington will continue to raise tariffs to Chinese goods that are exported to the USA in the future, China will continue to ignore this.
The tariffs had reached a level at which there was no longer any market acceptance for US goods that would be exported to China. According to the announcement on April 12, the measure should come into force.
US President Donald Trump Had previously announced that the tariffs on imports from China continue to increase to 125 percent. The US government then announced that they had not included in the amount of 20 percent. So it is Special customs set against China now at 145 percentwhile Trump had temporarily suspended certain serves in parallel for other countries.
Beijing does not want to be blackmailed
Trump justified the step with the fact that China brought the world markets to « lack of respect ». Beijing had previously made it clear in response to the US customs duties of the past few days that it was ready to « fight to the end » and accused the USA « extortion ».
At the same time, China advertises better relationships from other trading partners. At a meeting with the Spanish Prime Minister Pedro Sánchez, Beijing campaigned for working with the EU in the global trade conflict. Before that, EU trade commissioner Maros Sefcovic and the Chinese Minister of Commerce Wang, Wang Wentao, had also talked about more economic exchange on both sides.
Back and forth causes criticism
The partially steering of US President Trump in the international customs conflict had initially caused some relief among trading partners and on the stock exchanges. After the brilliant upswing on Wednesday, however, the US stock markets had on Thursday Again the reverse gear inserted.
The reason for the upward trend was that after great turbulence on the stock and financial markets, Trump had surprisingly decided to grant a break from certain tariffs for 90 days. However, he went to China with additional hardness. His back and forth in the tariffs and the resulting market fluctuations cause a lot of criticism – and raise questions about possible insider trading.
