China announced on Friday that from April 10, a tariff of 34 percent will raise the imports of all US products.
The new tariff corresponds to the “mutual” tariff of the USA of 34 percent for Chinese exports that Trump ordered this week. The Ministry of Commerce in Beijing also announced in a message that rare earth will impose more export controls used in high-tech products such as computer chips and electric vehicle batteries.
The list of the control list included Samarium and its connections that are used in the manufacture of aerospace and in the defense sector. Another element called Gadolinium is used in MRI scans.
In addition, the Chinese government announced that it has added 27 companies to lists of companies that are subject to trading lanes or export controls. Among them are 16 a ban on the export of “Dual -Fair”. High Point Aerotechnologies, a defense technology company and Universal Logistics Holding, a listed transport and logistics company, were among the listed ones.
Beijing also announced that there was a complaint with the world trade organization because of the tariffs.
“The introduction of the so-called” mutual tariffs “of the United States seriously violates WTO rules, seriously damages the legitimate rights and interests of WTO members and undermines the multilateral trading system of the rules and the International Economic and Trade Ordinance,” said the Ministry of Commerce.
“It is a typical one -sided bullying practice that endangers the stability of the global economic and trade regulations. China is leaning against it,” it said.
Trump suspended the Chinese reaction in a social media contribution.
“China played it wrong, they panic – the only thing they can’t afford!”
Front burner29:13Trump’s trade war becomes global
Chinese tariffs on US carbon, natural gas
In February, China announced a 15 percent tariff for imports of coal and liquefied natural gas products from the USA. It added a 10 percent tariff for crude oil, agricultural machines and large engine cars separately. The latest tariffs apply to all products produced in the United States, as can be seen from a statement by the Ministry of Finance for Finance Ministry.
Trump’s recent tariff hikes in the US imports are compelling countries and industries to grasp themselves and to arouse the fears from a global recession.
“The recent announcements will have a significant impact on the prospects for global commercial and economic growth,” said the world trade organization on Thursday in a statement. “While the situation is developing quickly, our first estimates suggest that these measures in connection with the measures introduced since the beginning of the year could lead to a general contraction of around one percent in global trade volumes this year, which represents a downward revision of almost four percentage points from previous projections.”
While China was hit by considerable tariffs, it is an open question whether other Asian countries could use the situation in the trade in the US -Washington -Schlagen, Bangladesh, Cambodia, Malaysias and Vietnam, with tariffs of 27 to 49 percent.
Days before Trump’s announcement, China, Japan and South Korea organized their first common dialogue in five years.
At the meeting, the trade ministers of the federal states agreed to accelerate the talks about a free trade agreement in South Korea-Japan-China in order to promote the “regional and global trade”, as can be seen after a declaration published after the meeting.
O’clock | A deeper look at Trump’s latest tariffs:
