Donald Trump fired Salvo at the beginning of his trade war, imposed tariffs on China on Tuesday, causing immediate retaliation from Beijing in fear of global economic impact.
At the moment 10 % of tariffs was implemented, China quickly published an anti -trade survey on Google. The Ministry of Finance has announced 10 % of 15 % of tariffs on coal and liquefied natural gas, crude oil, agricultural equipment, large distributed vehicles, and pickup trucks from the United States.
The Chinese Ministry of Commerce and the Customs Bureau on Tuesdays, in order to “protect national security profits,” this country is an important mineral, such as tungsten, terrillium, rutenium, molybdenum, and rutenium -related items. He said that export management was imposed.
The Ministry of Commerce also stated that the US Company PVH Group and Illumina INC will be added to the entity list where the company has been accused, and it will be added to restrictions or penalties without specifying the accusation of companies. PVH is a clothing company that owns brands such as Tommy Hilfiger and Calvin Klein. Illumina is a biotechnology company specializing in genome sequence recently affiliated with NVIDIA with health -related AI technology.
“One -sided charges of tariffs by the United States have seriously violated the rules of the World Trade Organization,” said the Ministry of Finance in China in a statement of retaliation tariffs. “It is useless not only to solve its own problems, but also to impair normal economic and trade cooperation between China and the United States.”
Previously, the US President was pulled back from the brokerage of the economic dispute between Canada and Mexico, but after the 11 -hour consultation, he delayed his duties that had been threatened for another month.
For exports from China, the United States has abandoned exemptions, and cargo (644 pounds) of less than $ 800 (644 pounds) is not facing tariffs. Popular Chinese retailers, such as SHEIN and TEMU, are relied on exemption from selling cheap products in the United States.
Following the call of Mexico President Claudia Sheinbaum, Trump agreed to post a 25 % tariff in Mexico.
Discussion with Canadian Prime Minister Justin Trudeau has also encouraged Trump to postpone the 25 % tariffs in the country. Canada has implemented a $ 1.3 billion border plan, and says Torudeau, appointed Emperor Fentanyl, lists the cartel as a terrorist, and says, “I will secure 24 hours a day at the border.” Ta.
With the United States preparing higher tariffs in China on Monday, the White House announced that Trump will give a lecture with China, Xi Jinping in the latter half of this week. Beijing has previously counterattacked with “countermeasures” and promises a lawsuit against the United States in a World Trade Organization.
Economist warns that Trump’s tariff plan is at risk of raising the price of millions of Americans.
Trump, who talked to a reporter in an elliptical office on Monday, claimed that tariffs were financially strengthened in the United States and were “very powerful” to “get everything else.”
The President claimed that all countries wanted to agree to avoid US tariffs. “In all cases, they want to trade.”
Trump acknowledged on the weekend that they could cause a little pain in the United States. “Is there any pain? Yes, maybe (and maybe not!),” He wrote on social media. “But we will make the United States great again, and it is worth the price that we need to pay.”
A global financial market reaction that recovered a part of their loss on Monday, one month after Trump’s delay, was mixed on Tuesday.
In Hong Kong, Hang Senshare Index increased by almost 2.8 %, but Korean Cospi rose 1.3 %. FTSE 100 fell 31 points and fell to 8,551 immediately after opening in London.
Stirling decreased by 0.5 cents to US dollars to $ 1.24, but the euro reduced the same amount by $ 1.03.
The Canadian dollar fell to a low price for the first time in 20 years on Monday before the rebound, and became weaker to $ 1.445.
The Chinese market remains closed for the Lunar New Year holidays and will be resumed on Wednesday.
Additional reports by Graeme Wearden
