China increases duty to US imports by 50 %, responding to Trump’s duties that escalate the trade war between the two largest economies of the world.
The Chinese government announced on Wednesday that it is increasing duty to import from the United States by 50 %, which is the same increase as the President Donald Trump announced in the case of tariffs for Chinese imports to the US. TASR reports on this based on AP and AFP messages.
In the retaliation of Beijing, Chinese reciprocal customs duties from the US climb to 84 % of the previous 34 %, as the trade war between the world’s two largest economies is intensifying.
Trump’s duties escalate
The latest Trump’s duties, which came into force on Wednesday, have shifted the customs rates for China to 104 %.
“American practice of duties escalation for China is a mistake beyond the mistake that seriously violates the legitimate rights and interests of China, seriously damages the rules -based multilateral trading system and seriously affects the stability of the global economic order. This is a typical example of unilateralism, protectionism and economic bullying.” They canceled all unilateral duties and resolved the trade disputes with China.
China rejects the trade war
Although China considered Trump’s duties to be “blackmail”, she also said she didn’t want a trade war with the US. At the same time, she said she would fight Washington “until the end”.
The Government in Beijing refused to say whether it would negotiate with the White House, as many other countries started to do.
