China immediately retaliated on Tuesday, with 10 % of US tariffs on Chinese products and 10 % to 15 % of U.S. products.
From February 10, China will impose an additional charge of 15 % for coal and liquefied natural gas, and will impose 10 % tariffs on crude oil, agricultural machinery, large -scale distributed vehicles, and pickup trucks.
China’s announcement was made a few minutes after US tariff came into effect on ET at 12:01 am. This is the only one to proceed after President Donald Trump paused 25 % of the 25 % tariffs announced from Canada and Mexico.
Being unable to prevent tart tariffs with China will increase the risk of two largest spiral trade wars in the world.
“This unilateral tariff increase by the United States seriously violates the rules of the World Trade Organization and does nothing to solve the problem itself, and has a normal and US economic trade cooperation. It will be damaged, “said the Council of Council of Council. statement.
The United States reached an agreement with Mexico and Canada on Monday, and was able to delay 25 % of the funds for all imports from the country for a month.
In addition, Beijing has published Google surveys on suspicion of anti -trade violations, and has announced export control of items related to tungsten and other rare earth elements.
Gene Sequencing Company and Pvh Corp. in the United States, the owner of Calvin Klein and Tommy Hilfiger, have been added to “Unlimited Enterists” to limit their activities in China.
Trump announced 10 % of Chinese tariffs on Saturdays, quoting illegal international flow such as 25 % tariffs on products imported from Canada and Mexico, and Fentanil. Canada and Mexico tariffs have been paused for 30 days after discussions with leaders in those countries, but such transactions have not been attacked by China.
Trump is expected to say “several days” with Chinese leader Xi Jinpei, said Kalolin Ribit, the director of the White House’s press.
The market of mainland China remains closed for the holidays of the Lunar New Year. According to CNBC, the other Asia -Pacific markets rose in the news that Canada and Mexican tariffs were stored on Tuesday.
Beijing has stated that US tariff measures “protect its legitimate rights and profits.”
Additional US tariffs, “a serious violation of the WTO rules, a terrible act of a typical unilateral trade protection,” said the Ministry of Commerce.
Since Trump’s first term, since Trump’s first term, the appointment of Appeals has been prevented by World Trade Organization, and it is unable to mediate international trade disputes. However, China was still able to use litigation to gain international support for US tariffs.
“The U.S. approach will severely weaken multilateral trade systems based on rules, damage the basics of China’s economic and trade cooperation, and confuse global industries and supply chain stability.” The ministry said.
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