China’s 10 % of US tariffs on all Chinese products in China have been implemented, and China has immediately retalted on a series of measures, including 10 % to 15 % of US 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.
In addition, Beijing has published a survey on Google about the suspicion of anti -trade violation of items related to tungsten and other rare earth elements, an important component of high -tech products.
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.
The market of mainland China remains closed for the holidays of the Lunar New Year. CNBC reported that most of the news that Canada and Mexican tariffs had been held in the other Asian Pacific market, but Hong Kong’s Chinese territory has reduced profits.
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 the multilateral trade system based on rules, damage the basics of China’s economic trade cooperation, and confuse global industries and supply chains stability.” Was described.
Many Chinese products are already subject to tariffs, which were already introduced by Trump in his first term, and were maintained by President Joe Biden at the time or in some cases.
Beijing’s newly announced tariffs are subject to US tariffs, which appear to be applied to all Chinese products, and may be more affected than other products. For example, China has not imported many crude oil from the United States, but Google is blocked in China, and after withdrawing from censorship in 2010, domestic businesses are limited.
Others can present more challenges. The United States imports about a quarter of tungsten from China and produces about 80 % of the world’s supply. In other words, there are few alternative information sources. Important metals are used by ship manufacturers such as NVIDIA.
China’s tariffs are “mainly symbolic” and the impact on the United States is limited, and Tianchen Xu, an advanced economist in Beijing’s Economist Intelligence Unit, is 8.5 % of all Chinese imports from the United States last year. I added that it was covered.
It also represents a change in approach from Trump’s first term when China is strongly dealing with tariffs. It is more difficult now because China is suffering from economic deceleration.
“Trump wants a lot from the Chinese side, and he will start attacking one after another,” Xu said by email. “Considering that escalations apply further pressure to the economy, China has no intention of expanding the dispute.”
Trump announced on Saturday that it has quoted 10 % of Chinese tariffs, 25 % tariffs on products imported from Canada and Mexico, and illegal international flow of drugs such as border security and Fentanyl. 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.
China seems to have a different approach from Canada, Mexico, and Colombia, all of which have concluded to the United States to avoid immediate imposition to tariffs.
Alicia Garcia Herelo, the Chief Economist in the Asia -Pacific in Hong Kong, said:
Trump said that China’s 10 % of tariffs intended to put pressure on Beijing. It stopped the flow of precursor chemicals from China to Mexico and other countries, and was processed into Fentanyl and smuggled in the United States.
The United States and China say that Beijing has taken some action, but China has the best way to solve the fatal Fentanyl crisis in China is to reduce domestic demand, and tariffs are the future cooperation of drug management. He says that it can affect it.
“Fentanyl is a problem for the United States,” said the Chinese Embassy in Washington on Tuesday. “With the spirit of humanity and good intentions, China has given the United States support for this issue.”
Trump stated on Monday that a 10 % tariff was just an “opening salvation.”
“If you can’t do business with China, customs duties will be very important,” he said.
