Us tarifs: US President Donald Trump has decided to impose 10% tax on imports from all over the world and impose additional stringent duty on major trading partners, which has increased the possibility of global trade war. Meanwhile, China has warned America.
The Ministry of Commerce of Beijing said in a statement that these tariffs are against international trade rules and will suffer serious losses to the legal rights and interests of the countries related to it. China is ready to take retaliation to protect its rights and interests.
China released a statement
According to France24 report, Beijing urged Washington to immediately cancel these tariffs and warned that it would threaten global economic growth and damage the US interests and international supply chains. Apart from this, China also accused the US of unilateral threatening.
Difficulties increased for China
Trump has imposed a strict tariff of 34% on his big business partner China, while the Aadhaar fee of 10% will also be applicable for all countries. This is in addition to 20% tariff imposed last month. In response, Beijing imposed a fee of up to 15% on many US agricultural products including soybean, pork and chicken. The American tariff may shock the Chinese economy as it is already struggling with problems like debt crisis and decreasing consumption in the real estate sector.
Appeal to resolve the dispute
Beijing said that the US is claiming that it has suffered a loss in international trade. For this reason, he is making an excuse to increase the tariff on his business partners citing mutuality.
Beijing also said that this attitude of America ignores the benefits that have been received by all countries through years of business talks. At the same time, it also ignores the truth that America has made a lot of benefit from international trade for a long time. Instead, Beijing said to “talk” to resolve the dispute.