US President Donald Trump said that the customs duties policy is going well.
China said on Friday that it would increase customs duties on American goods from 84% to 125%, noting that it would “ignore” any additional fees that the administration of US President Donald Trump.
“The United States imposing unnaturally elevated customs duties on China is seriously violating international trade rules and basic economic laws.” She added that the new fees enter into force as of Saturday, April 12, according to Agence France Presse.
Additional fees
The US administration announced, on Thursday, that the additional customs duties on Chinese products amounted to 145%.
Trump was suddenly instead of his position on Wednesday and frozen the additional recognition applied to about 60 countries for 90 days, excluding only China, which has become isolated against Washington, according to Agence France -Presse.
In the face of Beijing’s insistence on responding similarly, the US President announced on Wednesday that the additional fees for Chinese products will reach 125%.
The White House said Thursday in a presidential decree that the decision is raised in reality to 145%, after calculating the 20% customs duties imposed by Trump on China for punishing it to accommodate factories that contribute to the production of fentanel, an AFI, which caused a serious health crisis in the United States.
During this period, US partners will hold talks with Trump to reach a tax settlement.
“The talks with the United States failing, Brussels may impose taxes on giant American technology companies that are now supportive of Donald Trump.
“There is a wide fan of counter -measures,” she said in the Financial Times, talking about “imposing a tax on advertising revenues from digital services” and resorting to the tool of “commercial deterrence and coercion control” known as “Bazoka”.
In turn, French President Emmanuel Macron said Friday on the “X” platform, that Europe “must mobilize all the tools available to protect itself.”
But Trump, 78, who shakes the international economic system, did not care and said calmly during his meeting with the White House ministers, “The transitional stage will be a cost and will raise problems, but in the end, it will be good.”
US Secretary of Finance, Scott Payette, confirmed that he does not see “something unusual today” in the markets, while Democratic representatives estimated that the Republican President may have manipulated them illegally by encouraging the purchase of shares before changing his position on Wednesday.
“Very smart”, after he rested the rest of the world, Trump has become mainly targeting China.
For its part, Beijing pledged “fighting to the end.”
“The door of dialogue is open to negotiation, but the dialogue must be based on mutual respect and to take place on an equal footing,” said Yong -Qian spokeswoman for the Chinese Ministry of Commerce.
As for the other Asian countries, which rely heavily on their exports to the United States, they have not taken any counter measures. Like Vietnam and Cambodia, textile producers and members of the Association of Southeast Asian countries (ASEAN) announced that they would not take retaliatory measures.
The European Union also decided to suspend the customs duties it announced on a group of American products, in a move that Donald Trump considered as “very smart”.
In the context, US President Mexico threatened again with new customs duties on Thursday evening against the backdrop of tensions on the sharing of the Colorado Rio and Rio Grande on the border between the two countries.
By imposing taxes on imports, Donald Trump believes he found a solution to resettling industrial production in his country, which he considers a victim of the evils of globalization.
Thus, he wants to collect customs duties and pay its partners to buy more American goods.
But Joseph Steglitz, the Nobel Prize -winning economist, said that the countries that trade with the United States do not know “how to negotiate” because “there is no economic theory behind what (Donald Trump) is doing.”
“He is another world!”
