After implementing additional 10% charges on Chinese imports by US President, Ministry of Chinese finances announced 15% and 10% tax application
A answered this Tuesday (4) to the tariffs imposed by Product imports from the country with similar measures against US fuels, vehicles and agricultural machinery at the beginning of a new trade war between the two largest economies on the planet. The Asian country also filed a complaint to the World Trade Organization (WTO) “to defend their rights and legitimate interests” against the imposition of tariffs on Chinese products .
Beijing’s retaliation was announced minutes after the entry into force of the additional 10% fees imposed by President Donald Trump on imports of Chinese products. Trump had also announced rates against Canada and Mexico, in this case of 25%, but suspended the implementation of measurements for 30 days in exchange for increased surveillance and safety on their borders to combat fentanyl trafficking.
China’s Ministry of Finance announced in a statement to adopt 15% coal rates and liquefied natural gas (LNG) of the United States, and 10% on gross oil, agricultural machinery and some vehicle models. The measure is a response to the “unilateral increase in tariffs” by the United States, the statement says.
According to Beijing, Trump’s decision “severely violates the rules of the World Trade Organization (WTO), does nothing to solve his problems and impairs normal economic and commercial economic cooperation between China and the United States.” The Ministry of Commerce filed a complaint to the WTO as it considers that the measures adopted by Washington were “of a malicious nature.”
In addition to the tariff response, Chinese authorities announced an investigation against the American group Alphabet (Google Matrix) for violation of anti -monopoly laws and the inclusion of the PVH fashion group (owner of Tommy Hilfiger and Calvin Klein brands) and the illumine biotechnology group in a list of “unrivable entities”. Beijing has also announced new controls on rare metal and chemical exports such as tungsten, tellurium, bismutus or molybdenum used in various industries.
TRUND, with Mexico and Canada
Trump justified the new rates against the three main commercial allies of the United States as a punishment for not enough to contain the illegal flow of migrants and drugs to the US territory. The Republican, however, announced last-minute agreements with Mexican President Claudia Sheinbaum and Canadian Prime Minister Justin Trudeau to increase border surveillance and suspend the implementation of new tariffs for 30 days.
The US President said he intended to call Chinese homologist Xi Jinping over the next 24 hours to negotiate a similar agreement. American authorities point to China as responsible for entering the Fentanil country, a synthetic opioid 50 times more powerful than heroin and responsible for almost 75,000 annual deaths from overdose in the country.
According to the American Intelligence Service, China sends chemical components to Mexico, where cartels turn them into fentanil and send the product to the United States. The Republican tycoon states that the communist party that rules China has “subsidized Chinese chemical companies to export fentanil.”
When talking about the Trump accused the government of having “an alliance” and providing “safe refuges” to drug cartels. However, the measures against the neighboring country were momentarily suspended after a “very friendly” conversation with its Mexican counterpart.
Sheinbaum has announced that “Mexico will reinforce the North Frontier with 10,000 National Guard elements immediately to avoid drug trafficking,” especially Fentanil. Washington will strive, according to Mexican President, to “avoid arms trafficking,” an ancient requirement that led the government to sue arms manufacturers in the United States.
In the case of Canada, Trudeau announced the mobilization of nearly 10,000 border protection agents, the inclusion of cartels on the list of terrorist organizations and the appointment of a ‘tsar’ to lead the fight against Fentanil.
*With information from AFP
Posted by Victor Oliveira
