China rises tariffs to the US up to 125%
China responded to Trump’s tariffs on Friday by increasing their own tariffs on US products to 125 %, amid the concerns about a global recession, the fall of the bags and a degradation of the American treasure bonds, one of the main causes that Trump “Pausara” tariffs for 90 days to most countries, except for China.
The announcement occurred after Trump administration officials clarified that China faced a minimum 145 % tariff over all its exports to the United States. China announced that its new tariffs, which raise the US import tax of 84 %, would take effect on Saturday.
Xi Jinping had said hours before “there are no winners in a tariff war”, during a meeting with the Spanish prime minister in which he invited the European Union to work with China to resist “intimidation”, part of an apparent campaign to underpin other commercial partners.
After the announcement of the new tariff, the Chinese trade minister suggested in a statement that this could be the last measure of Beijing in the tariff climb, since “with the current tariff level, there is no longer acceptance in the Chinese market for US products.”
“If the United States continues to impose tariffs on Chinese products exported to that country, China will ignore it,” he said, warning that other countermeasures will be adopted.
For his part, the French president, Emmanuel Macron, described the 90 -day tariff pause of the US president (who sets most of the tariffs in 10% until July) as “fragile”, which added discomfort in the markets. Trump’s announcement “sends a signal and leaves the door open for dialogue. But this pause is fragile,” “This 90 -day pause is 90 days of uncertainty for all our companies, on both sides of the Atlantic and beyond,” Macron said in his X account.
Asian indices followed in the steps of Wall Street down on Friday, with Japan’s Nikkei going down almost 5% and Hong Kong actions leading to its greatest weekly fall since 2008. Petroleum prices were also expected to fall for the second consecutive week.
Source: www.laizquierdadiario.com
