China increases tariffs on US assets to 84%, since the EU also retaliates against Trump’s tariffs

China’s announcement indicates that Beijing is not retreating in a global trade war caused by Trump’s decision of April 2 to collect the so -called “reciprocal tariffs” on Almost all nations. In response to that announcement, China said it would counteract the same duty, 34% at that time, in American imports, which led Mr. Trump to slapped another 50% rate on Chinese imports.

Together with the previously announced rates, Trump has raised the rate of total rates in the products made by China to 104%, a rate that US companies that import products from China will pay. It is likely that these companies transmit the cost of all or some of the import tariffs to US consumers, according to experts in US consumers, from iPhones to clothes made in China.

In a statement on April 9, China said Mr. Trump’s decision to add another 50% tariff as an “error error.” He also called Mr. Trump’s tariffs as an example of “unilateralism, protectionism and economic harassment.”

Beijing’s most recent measures include adding 11 American companies to a so -called list of “unreliable entities” that would prevent Chinese companies from selling double -use products. Among the companies are American photonics and Synexxus, which work with the US army.

Until now, China has not seemed interested in negotiation. “If the United States really wants to solve problems through dialogue and negotiation, it must adopt an attitude of equality, respect and mutual benefit,” said the spokesman for the Ministry of Foreign Affairs, Lin Jian on Wednesday.

China was the third largest export market for the US. In 2023, after Canada and Mexico, with $ 145 billion in goods sent to the Asian nation that year, according to the Us-China Business Council. Oleaginous seeds and grains are the largest export that the United States sends to China, followed by oil and gas.

EU also returns backwards

Separately, the European Union announced on Wednesday its own retaliation measures against the US. The commercial block of 27 countries announced tariffs in more than $ 22 billion in US products. UU., Including soybeans, motorcycles and beauty products, according to News.

“The EU considers unjustified and harmful US rates, causing economic damage to both parties, as well as the global economy,” said the European Commission in a statement issued after the EU member states approved the measures.

The Trump administration has imposed 25% tariffs on EU vehicles, together with a 20% reciprocal tax.

In:
• Duty
• Trump administration
• Porcelain