
US President Donald Trump on Wednesday announced 34 per cent tariffs on USD 438 billion worth of US imports from China.
China is America's third largest trading partner. China reacted strongly after this decision and said that it would take countermeasures to protect its rights.
Opposition to China
A Chinese Commerce Ministry spokesperson said China opposes the US' "reciprocal tariff" and will take firm measures to ensure its rights and interests are protected. Earlier, Trump had also imposed 10 percent tariffs on China in February and March.
China responded
China had earlier imposed an additional 15 percent tariff against Trump's tariffs and taken legal action against the US in the World Trade Organization (WTO). Apart from this, China has put 10 US companies in the list of "unreliable entities" and taken action against them. These include many defense, security, AI, aviation, IT related companies.
impact of the new charges
Chinese officials say that these new tariffs will hurt American consumers more. But these tariffs will have a huge impact on China's trade and industries, which are already affected by the slowdown in the Chinese economy.
US pressure and Trump's statement
Trump said China imposes 67 per cent tariffs on US products, including currency manipulation and trade barriers. Announcing from the White House's Rose Garden, Trump said imposing a 34 per cent tariff on China would correct the trade imbalance. He called it "tough love" and said China has taken huge advantage of the US.
Clear opposition from China
China opposed Trump's tariff policy, saying protectionism will not yield any gains and there are no winners in trade and tariff wars. Chinese Embassy spokesman Liu Pengyu said, "China's opposition to additional tariffs has always been clear and consistent."
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