Rishing for Donald Trump’s customs duties increase from China – Cyprus Newspaper

US President Donald Trump’s new customs duty decision aroused a great impact in global trade.

Trump announced that large -scale tax increases have been imposed within the scope of “mutual tariffs özgü for products imported to the USA.

With this decision, at least 10 percent basic customs duty will be applied to imports from all countries, while higher rates were brought to some countries.

The highest rate was applied to China

The highest rate was applied to China with 34 percent.

This caused China’s harsh reaction.

The Chinese Ministry of Commerce, who opposes taxes, said that the decision is not in accordance with the international trade rules and threatened the legitimate rights and interests of the parties. “This is a typical unilateral bullying practice. This will not only harm the US’s own interests, but also endanger global economic development and supply chain stability.”.

My retaliation step has come

As a retaliation step, China announced that it will apply 34 percent additional customs duty to certain products imported from the USA.

These products include strategic items such as agricultural products (soybeans, corn, cotton), foodstuffs (meat and dairy products) and energy resources (crude oil, natural gas).

Sanction of US companies

It was also stated that China could impose sanctions on some US companies.

This development shows that the trade war between the United States and China has entered a new phase and creates uncertainty in global markets.