China is slapping 84 percent of tariffs on US assets since Thursday, increasing the 34 percent tax as announced above, his Ministry of Finance said Wednesday.
Beijing’s hurried movement is only the last shot in an international commercial war caused by the president of the United States, Donald Trump, while working to level the playing field for global trade after the president of China, Xi Jinping, refused to withdraw the reprisal rates placed.
Last week, Trump announced reciprocal tariffs on countries that historically have imposed high tariffs on the United States, including China, which faced a 34 percent tariff in addition to the tariffs existing in their assets.
The Customs Tariffs Commission of the Communist Dictatorship of the State Council said that Trump is making an “error” with the global government nozzle Times urging the United States to go back, declaring:
The United States tariff escalation against China is an error in addition to an error; Seriously infrigeate the legitimate rights and interests of China and seriously undermine the multilateral trade system based on the rules, the commission said.
China urges the United States to immediately correct their incorrect practices, cancel all unilateral rate measures against China and properly resolve differences with China through the same dialogue depending on mutual respect.
China, the second largest economy in the world, said previously that “it would fight until the end” and would take countermeasures against the United States to safeguard their own interests, as Breitbart News reported.
He also said that he is presenting a complaint to the World Trade Organization, even when the Trump administration warned that China’s measure to retaliate, not negotiate, is intended for disaster.
Karoline Leavitt: “It was a mistake for China to retaliate” with larger rates
The United States Treasury Secretary Scott Besent said that China’s action against the world’s largest economy is “unfortunate.”
“I think it is unfortunate that Real China does not want to come and negotiate, because they are sausage criminals in the international commercial system,” Besent said in an interview with Fox Business Network.
More to come …
