China Imposes 84% Retaliatory Tariffs on U.S. Goods
World
The Chinese government has announced new retaliatory tariffs on goods imported from the United States. These tariffs are set at an additional 50 percent on top of the previously imposed 34 percent. As a result, starting from April 10, a total tariff rate of 84 percent will be applied to all U.S. imports, according to China's Ministry of Finance in Beijing.
The move comes after U.S. President Donald Trump announced a new 50 percent tariff on Chinese goods the previous day. These new tariffs, combined with the earlier 34 percent duties, went into effect on April 9. Consequently, the total special tariff rate on Chinese imports into the U.S. has reached 104 percent.
According to White House press secretary Karoline Leavitt, Trump is waiting for a call from Beijing and has promised to act with restraint if China “extends a hand”. However, just a day earlier, Trump stated that he does not intend to hold further negotiations with China regarding tariffs.
Trump's actions have drawn sharp criticism from politicians and economists around the world. Stock market indexes have fallen, and oil prices have dropped significantly. A global rise in consumer prices and a slowdown in economic growth are expected.
According to the dpa agency, Trump’s decision to impose new tariffs on most countries is regarded as the most aggressive and dangerous move in his trade policy to date.
According to White House press secretary Karoline Leavitt, Trump is waiting for a call from Beijing and has promised to act with restraint if China “extends a hand”. However, just a day earlier, Trump stated that he does not intend to hold further negotiations with China regarding tariffs.
Trump's actions have drawn sharp criticism from politicians and economists around the world. Stock market indexes have fallen, and oil prices have dropped significantly. A global rise in consumer prices and a slowdown in economic growth are expected.
According to the dpa agency, Trump’s decision to impose new tariffs on most countries is regarded as the most aggressive and dangerous move in his trade policy to date.
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