In a climb in the Business War started by the White House, Beijing had already implemented 34% rates on American products; tension generated panic in the global financial market
Former United States President Donald Trump made a blunt announcement on the imposition of additional Chinese tariffs. From April 9, if China does not remove its rates, the US will apply a 50% rate on these products. Trump criticized high tariffs and subsidies he considers illegal by the Chinese government. Climbing in the commercial tension initiated by the US government caused panic in the global financial market.
Beijing had already implemented 34% rates on products from the United States. Trump, in his statement, said he has decided to end all negotiations with China and that instead he will start dialogues with other nations to seek new trade agreements. “All negotiations with China regarding the meetings requested by them will be closed. Negotiations with other countries, which have also requested meetings, will begin to occur immediately,” said the president.
In addition to tariffs directed to China, Trump has announced that all countries except Mexico and Canada will be subject to a minimum rate of 10% on imports. This measure aims to increase the competitiveness of US industry, but can also generate retaliation from other countries.
With regard to the European Union, the rate on imported products will be 20%. The situation becomes even more complex with the 20% surcharge that is already in force for Chinese products, raising the pressure on trade between the two powers. China’s response, with 34% rates on American products, indicates that the commercial dispute is far from resolved.
Posted by Felipe Dantas
*Report produced with the aid of AI
