China imposes retaliatory tariffs on $14bn worth of US goods

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China has imposed revenge tariffs in the United States, the embassy in Washington on Sunday – hitting about $ 1 billion worth of goods and hopeful that trade war between the two largest economies in the world can be avoided.

Beijing declared Tariff In response to the US decision to impose an additional 10 percent tariff on Chinese products last week, US President Donald Trump called “inaugural Salvo” in a new trade attack against China.

Compared with the blanket US duty, China’s measures – which are US liquid natural gas, coal, crude oil and farm equipment, targeting some automotive products with 10 percent to 15 percent of the customs products – have been shown to avoid extensive trade conflicts for discussion.

However, no agreement was reported within the Sunday period, and the Chinese embassy in Washington reported that the tariff was effective during Beijing at 12.30am on Monday (Sunday morning 9.30am).

Beijing also made a declaration of last week Disbelievers investigated in GoogleThe search engine whose search engine is blocked in China and the US biotechnology company Illuminina. And it blacklisted the US garment brand holding company Calvin Klein and Tommy Hilfiger.

China underlines the control of rare earth supply discipline by restricting exports to the United States of five critical metals used in defense industries, solar panels, electric vehicles batteries and other green energy products. China produces about 60 percent of the rare world in the world and for processing 90 percent in the industry.

Financial Markets initially hoped that Trump could follow the same playbook with China like Canada and Mexico – against whom he declared tariffs, but then gave Recovery of one month After the last -minute discussion with their leaders.

Trump suggested that he would talk to Chinese President Xi Jinping, but later said he was “no crowd” to do it.

Experts have suggested that Beijing has probably objected TrumpThey announced the tariffs just two days before the implementation and before approaching Chinese officers for discussion.

Trump has been accused of failing China to control the fattens of Fentanil in the United States with Mexico and Canada.

He also directed US trade representatives to investigate Chinese consent with the first phase of the trade agreement that was sealed with China for the first term at the White House, under which Beijing agreed to buy more American products.

The results of the USTR April 1 are expected to report the results from the investigation, where there may be another conflict, analysts say.

Beijing has taken Some arrangement From a summit in San Francisco in late 2021, the then US President Joe Biden and the eleventh to overcome the flow of material for Fentannell. However, the Trump administration has accused Beijing subsidize Chinese companies that make their predecessors.

US-China business relations have shaped the economy of both countries in recent decades.

However, China’s part of China’s gross US imports has been significantly reduced since Trump launched the tariff in its first term, leading some analysts to advise to be Beijing Now to keep the better To undergo the president’s system.

HSBC Chief Asia Economist Frederick Newman says many Chinese companies will be able to carry 10 percent tariff on their products, the country’s export prices have dropped much higher than rival producers in the last two years.

He added, “If there are only ten percent tariff in China and we leave it, I think many investors will sleep more comfortably,” he added. “Of course the big concern is a presentation of possible greater trade restrictions.”