China has announced reprisals against the United States after President Donald Trump imposed a 10% tax on all Chinese imports.
Removers include a 15% tax on coal and imports of liquefied natural gas from the United States, while crude oil, agricultural machines, vans and large motor cars will face a price 10%. They should come into force next Monday.
China complained to the World Trade Organization (WTO) – accusing the United States of breaking international rules.
Trump says that prices are a response to trade deficits – as well as an effort to slow down the flow of fentanyl opioid. His administration says that chemicals brought in China’s medication.
Beijing previously said that the American fentanyl crisis was its own problem.
The new US price of an additional 10% on Chinese imports entered into force on Tuesday.
In a statement announcing its response, China said that this decision was “not only useless to solve its own problems (from America), but also to compromise normal economic and commercial cooperation between China and the United States”.
Other steps that Beijing has taken in response to the new prices of the Trump administration include the addition of more American companies to its “unreliable” entity.
This time, Phv Corp, the company that has Calvin Klein and Tommy Hilfiger fashion marks, and the American biotechnology company Illumina, were both targeted.
In a press release, the Chinese Ministry of Commerce accused companies of “discriminatory measures against Chinese companies”.
Companies added to the list can face a number of sanctions, including fines and the fact that their foreign employees’ work visas have been revoked.
Beijing has also announced its intention to restrict the export of 25 critical minerals, some of which are key components for electrical products.
These include tungsten, which is difficult to find and a crucial material for the aerospace industry, tellurium, widely used for solar panels and molybdenum, which is used to strengthen steel alloys.
A Chinese guard dog launched a Google investigation for alleged violations of competition rules, known as antitrust.
Although Google’s research services have been blocked in China since 2010, it still has commercial activities in China. It always provides applications and games to the Chinese market thanks to a partnership with local developers for example.
The United States and China have both imposed prices on hundreds of billions of dollars of goods from each other in the past within the framework of an ongoing trade war.
Meanwhile, Trump suspended 25% prices for Mexico and Canada for 30 days for 30 days.
After last -minute negotiations, the two American neighbors agreed to safety of the stricter border and to take greater measures to fight against the trafficking of fentanyl – a victory for Trump’s strategy to take advantage of the American economy To force concessions from other countries.
Together, China, Mexico and Canada represented more than 40% of imports to the United States last year.
It is not yet known if Trump will follow his threats to Canada and Mexico once the deadline for 30 days.
This uncertainty arouses fears that could see companies reducing their dependence on US markets, continues to invest in the construction of new factories or the hiring of workers until the commercial confrontation becomes clearer.
