The US tariff rate for Chinese imports is now effectively 145 percent, said a White House official recently. Meanwhile, China warned that in terms of trade and tariff war, it would not jerk.
On Friday, the Chinese Minister of Trade Wang Weao led a discussion with his Saudi Arab and South African counterparts to exchange opinions on responding to “reciprocal tariffs” of the United States.
China is open to a dialogue with the US, but it must be based on mutual respect and equality, the official said. The statement came the day after US President Donald Trump told the media that “China wants to conclude an agreement. They just don’t know how quite it is.”
Here’s what we know about the US trade war
1. Total hikes in the US trade war
Trump has now increased the tariff to Chinese goods from the office in January, the Associated Press reported. The first two 10 percent hikes met with what analysts described as a measured answer from China, which left the door open for interviews.
Trump then announced another 34 % duty on Chinese goods last week in his speech. China coincided with 34 % tariff on imports from the US.
Trump then added a 50 % tariff to goods from China, with the negotiation to end. This brought a cumulative American tariff on Chinese goods to 104 percent. China responded by increasing the tariff to American products by the same amount, which increased its total rate to 84 percent.
Then Trump further increased the American tariff to 125 percent and said it would show “immediately”.
Now the White House official on Thursday confirmed CNBC on Thursday that the US tariff rate on Chinese imports is now effectively 145 percent, as Trump 125 % of the tariff comes to the top of 20 % of the Fentanyl tariff that Trump previously imposed on China.
2. China says that “will not jerk if…”
The Chinese Foreign Ministry spokesman Lin Jia said on Thursday that Beijing does not want to fight against the trade war, but according to Chinese intelligence outputs Xinhua has not changed to this point if they escalate to this point.
His comments came in response to Trump’s threat to impose additional benefits from China imports.
“The fair cause has support for many,” Lin said, remarking that the US. Actions are unpopular and end up with failure.
“We will never sit in idle and monitor while the legitimate rights and interests of the Chinese are violated, nor will we sit idly as international economic and business rules and multilateral trading system,” the spokesman said.
3. China-Reshators ‘must be based on mutual respect’
The Chinese Ministry of Trade said on Thursday that China was open to the US dialogue, but it must be based on mutual respect and equality.
“Pressure, threats and blackmail are not the right way to deal with China,” said Yongqian spokesman Reuters when he asked if the two largest economies in the world had started negotiations.
China “will follow the end”, if the US insists on its own way, the spokesman said.
4. China speaks to Saudi Arabia in South Africa
The Chinese Minister of Trade Wang Weao conducted discussions with his Saudi Arab and South African counterparts to exchange opinions on the “reciprocal tariffs” of the United States, the Chinese ministry said on Friday.
China discussed the strengthening of bilateral economic and business cooperation with Saudi Arabia and South Africa, Reuters reported. The conversations took place on Thursday on separate video calls.
5. “Dumping American Government Bonds”
Traders said Japan and China can store US government bonds and, according to Reuters, this development could relate to the White House.
6. Trump’s China Critici Critics ‘Insane’
Vice President JD accused some of Trump’s Chinese tariffs of “mad”.
“There is a category of dedicated DC that wants to fight the real war with China, but also wants China to produce a large part of our critical offer,” Vance writes in a post on the X -Social Media platform.
“That’s crazy,” the vice president said. “President Trump wants peace, but also wants fair trade and more independence for the US economy,” he added.
7. “Trump policy Trump violates the rules of WTO”
Formerly on Wednesday, China expressed serious concerns and firm opposition to the “ruthless” tariffs of the United States in the World Trade Organization (WTO). China killed US customs policy and said it violated the WTO rules and undermines the multilateral trading system, Xinhua News reported.
The first day of the two -day meeting of the Council for Trade in goods, China proposed a discussion of American “mutual tariffs” that urged the US to follow the WTO rules to avoid a negative impact on the global economy and the multilateral trading system.
“Reciprojoji tariffs” will never be the treatment of business imbalances. Instead, the US itself is reflected and damaged, China said.
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