The stranger of commercial wars is that life continues as if nothing: people early, they go to their jobs, children to school, and cars and bicycles continue to slide down the Beijing roads. The effects are at first sight imperceptible. But the contest is already a reality in China. A minute after noon in the People’s Republic (6.01 in the morning in peninsular Spain) they have entered into force, whose value exceeds 143,000 million dollars (130,000 million euros).
The coup is part of the response of the Chinese authorities to the tariff war initiated by the US president, Donald Trump, which on Wednesday announced a new increase in the encumbrances to China until, which added almost 440,000 million dollars (about 400,000 million euros) in 2024. Meanwhile, a 90 -day partial truce in the commercial war that frees it with the rest of the planet has decreed. Beijing has not replicated this last sting, but it is foreseeable to adopt new countermeasures, following the script of the last weeks.
With the world in suspense and stunned, the two great economic powers of the planet, whose value chains are deeply intertwined, face each other in a colossal commercial battle of unpredictable effects on both nations and the rest of the planet. No one, for now, seems interested in pressing the brake button; They still do not give their expected high -level contacts they could. On Tuesday, a few hours after the US tariff machinery began to operate, Trump had assured that “China is desperate to reach an agreement” and that she was waiting for her call. But there is no conversation between the Republican and his Chinese counterpart, Xi Jinping.
To date, the Chinese government on Wednesday, only a few hours after the taxes of 104% of the North American country to all of the Chinese assets, Beijing raised its replica cannon another 50% (from 34% to 84%), identical percentage that the Republican had decreed on Monday as a response, in turn, to the previous countermeasures of the Asian giant.
“The US practice of increasing tariffs to China is an error on another, which severely violates China’s legitimate rights and interests and seriously damages the multilateral trade -based trade system,” justified the Chinese government yesterday its response, remote control against different sectors.
Beijing also imposed export restrictions on 12 US companies due to the possible civil and military double use of what they sell, added another six to the list of “non -reliable entities”, and raised a new demand before the World Trade Organization. It was also beyond the commercial when issuing an “caution” alert for Chinese tourists who plan to travel to the United States “due to the deterioration of Chinese-American economic and commercial relations.” A sign that the ties between the powers crack at vertigo speed.
In addition, China published on Wednesday an extensive White Paper on commercial relations between the two countries, with which it intends to give its factual version of the exchanges. “If the United States insists on intensifying its economic and commercial restrictions, China has the firm will and abundant means to counteract with determination and fight until the end,” said a spokesman for the Ministry of Commerce when questioned by the volume, he collected the state press.
In previous rounds, Beijing has also decreed export restrictions to the United States of critical minerals and rare earths, key elements in the technological career, and one of Trump’s obsessions, these resources, whose production dominates China, are one of the large buzas of Beijing in the exchange of blows.
