Tuesday China has imposed rates on some US imports in a quick response to new US rates on Chinese products, increasing risks in a clash between the two major economies in the world.
Further rates of 10% on all Chinese imports in the United States entered into force at 2:01 on Tuesday, after Trump repeatedly warned China that the country was not doing enough to stop the flow of illegal drugs in the United States.
In a few minutes, the Chinese Ministry of Finance said that it will adopt coal rates of 15% and USA and 10% for gross oil, agricultural equipment and some trucks, as well as large sedans sent from the United States to China.
China has also said that an anti -mopal investigation on Google from Alphabet will begin. At the same time, he included Pvh Corp, possession of brands such as Calvin Klein and the US biotechnology society deludes in a list of possible penalties in China.
Separately, the Chinese Ministry of Commerce and its customs administration have declared to impose export checks on some essential metals for electronics, military equipment and solar panels.
A 10% fee announced by China on US imported electric trucks can be applied to Elon Musk’s future sales of Cybertruck, a niche offer that Tesla promoted to China. Tesla did not make immediate comments.
The new Chinese rates on US exports will begin on February 10, giving Washington and Beijing for some time to try to reach an agreement that the Chinese authorities have indicated that they expect to reach Trump.
Chinese countermeasures were limited in terms of flow rate compared to the general tax of the Trump government on imports, a continuation of the most committed response of Beijing to this round of commercial tensions with the United States.
Trump planned to speak with the Chinese president Xi Jinping this week, said a spokesman for the White House.
On Monday, Trump suspended his threat of taxes of 25% on Mexico and Canada at the last minute, agreeing with a 30 -day break in exchange for border concessions and police against the two neighboring countries.
During his first term, in 2018, Trump began a brutal war on two years with China due to the enormous commercial surplus of the United States, with hundreds of billions of dollars in goods that hit the global supply chains And he damaged the economy.
“The commercial war is in the early stages, so the probability of new rates is high,” said Oxford Economics in a note by lowering its forecast of economic growth from China.
Trump warned that he could further increase rates on China, unless Beijing interrupt the flow of Fenanil, a deadly opioid for the United States.
“We hope that China stops sending us Fenetanil and, otherwise, the rates will be substantially higher,” said Monday.
China defined the problem of the United States Fenanil and said that she would contest the rates of the World Trade Organization and would take other contracts, but she also left the door open for negotiations.
The United States are a relatively small source of gross oil for China, equal to 1.7% of its imports last year, for a value of about $ 6 billion. Just over 5% of Chinese GNL imports come from the United States.
“Unlike Canada and Mexico, it is clearly more difficult for the United States and China to agree with the economic and political needs of Trump. The previous optimism market regarding a rapid agreement still seems uncertain,” said Gary NG, The economist Natixis Senior in Hong Kong.
“Even if the two countries reach an agreement on some issues, you can see the rates used as a recurring tool, which this year can be an important source of volatility of the market.”
Source: Terra
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