On Tuesday, China slapped the customs tariff for American imports in a quick response to new American duties on Chinese goods, and a trade war between the best two economies in the world even with President Donald Trump’s offer to Canada and Mexico.
An additional 10 percent tariff entered all Chinese imports in the United States at 12.01 et after Trump has repeatedly warned of Beijing that he was not doing enough to stop the flow of illegal drugs to the United States.
Within a few minutes, the Ministry of Finance in China said it will impose a 15 percent fee for American coal and LNG (LNG) and 10 percent on crude oil, agricultural equipment and some cars. The ministry said that the new definitions of American exports will start on February 10.
China also said it started to achieve a Google Pregnancy, while PVH Corp includes the brands holding company including Calvin Klein and the American Biotechnology Company Illumina in the “unreliable entities list”.
Separately, the Ministry of Trade of China and Customs Administration said it imposes export controls on Tungsten, Tylorium, Molboom, Smot and Indium “to protect national security interests.”
China controls many global supplies of such rare ground minerals that are decisive in the transmission of clean energy.
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On Monday, Trump suspended his threat by 25 percent of the customs tariff on Mexico and Canada at the last minute, agreeing to a 30 -day stand in exchange for concessions on the border and enforcing crime with the two countries.
But there was no such dilution of China, and a White House spokesman said that Trump would not speak with Chinese President Xi Jinping until later in the week.
During his first term in 2018, Trump began a two -year brutal trade war with China because of its huge American trade surplus, with a tariff for hundreds of billions of dollars of global supply chains and the destruction of the global economy.
With Canada and Mexico stampede to ward off the customs tariff from the United States, European Union members are preparing for President Donald Trump to impose definitions there as well.
“The trade war is in the early stages, so the possibility of more customs tariffs occurred,” Oxford Economic said in a note as it reduced economic growth forecasts in China.
Trump has warned that it might increase the definitions of China more than Beijing stems from the flow of fentanel, the deadly opium, to the United States.
China to challenge customs duties at the World Trade Organization
He said on Monday: “We hope that China will stop sending us to Fintanel, and if not, the customs duties will significantly rise,” he said on Monday.
China has called for the problem of Ventanil America and said it would challenge the definitions of the World Trade Organization and take other counter measures, but it left the door open to the conversations.
The United States is a relatively small source of crude oil of China, which represents 1.7 percent of its imports last year, at a value of about $ 6 billion.
In 2019, Beijing slapped the punitive definitions of American liquefied natural gas, and retreated from Washington’s increase in the definitions of Chinese goods. The risks are now higher, as China imports 4.16 million tons of liquefied natural gas in the United States in 2024 with a value of $ 2.41 billion, approximately 2018 volumes 2018.
Hong Kong contributed gains after China’s revenge, while the dollar was strengthened, the Chinese yuan fell, and the Australian dollar withdrawn.
“Unlike Canada and Mexico, it is clear that it is difficult for the United States and China to agree on what Trump is economically and politically required. The previous market optimism is still on a quick, uncertain deal,” said Gary Ng, the chief economist in Natsisce, Hong Kong.
“Even if the two countries can agree on some issues, it is possible to see the definitions used as a frequent tool, which can be a major source of market fluctuations this year.”
Deals
There was relief in Ottawa and Mexico City after Prime Minister Justin Trudeau and Mexican President Claudia Shinbaum said they had agreed to strengthen the border enforcement efforts in response to Trump’s demands to abandon immigration and drug trafficking. This would stop the tariffs of 25 percent of the scheduled to apply on Tuesday for 30 days.
Canada has agreed to deploy technology and new employees along its borders with the United States, launch cooperative efforts to combat organized crime, smuggle fentanel and money laundering.
Mexico agreed to strengthen its northern borders with 10,000 members of the National Guard to stop the flow of illegal immigration and drugs.
On Sunday, Trump suggested that the European Union 27 countries would be its next goal, but it did not say when. Trump hinted that Britain, which left the European Union in 2020, could be window.