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China announced on Friday that it would impose a 34 % tariff on imports of all American products that start on April 10, part of the noise of retaliation measures after the panel with double-digit tariffs by US President Donald Trump.
The new tariff corresponds to the stops of an American “reciprocal” 34 percent tariff on Chinese exports ordered by Trump this week. The Ministry of Trade in Beijing also said in the notice that more export control will be imposed On rare countriesWhat are the materials used in high -tech products such as computer chips and batteries of electric vehicles.
In addition, the Chinese government announced that it added 27 companies to lists of companies that are subject to trade sanctions or export control. Among them, 16 is subject to the ban on exporting the “double use”. High Point Aerotechnologies, Defense and Universal Logistics Holding Company, a public trading company for transportation and logistics, were among the listed.
Beijing also announced that he had filed a lawsuit with a trade organization for the issue of tariff.
The “imposition of the so-called” reciprocal tariffs “is seriously violating WTO rules, seriously damaging the legitimate rights and interests of WTO members and seriously undermines the multilateral trade system based on the rules and an international economic and trade order,” the Ministry of Trade said. “It is a typical one -sided practice of harassment that threatens the stability of the global economic and trade order. The cinema is firmly opposed,” it is said.
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Chinese tariffs on American coal, natural gas
In February, China announced a 15 % tariff on coal imports and tinted from the US from the US, IT led to a 10 percent tariff on the raw oil, agricultural machinery and large engine cars separately. The latest tariffs are applied to all products made in the United States, according to a statement from the Commission for the Tariff of the Ministry of Finance State Council.
Trump’s latest tariff trips to imports to the United States are convincing countries and industries to strive for the base and raise fear of global recession.
“Recent announcements will have significant consequences on the prospect of global trade and economic growth,” the World Trade Organization statement said. “Although the situation develops rapidly, our initial estimates suggest that these measures, together with those introduced from the beginning of the year, could lead to total contraction of about one percent in the global trade of goods this year, which is a revision of the downward score of nearly four percent points from previous projections.”
While China was affected by significant tariffs, the question was whether other Asian countries could use the situation in the store with the American Washington hit India, Bangladesh, Cambodia, Malaysia and Vietnam with 27 and 49 percent tariffs.
For days before the announcement of Trump, China, Japan and South Korea, they held their first dialogue together in five years.
At the meeting, the Ministers of State Trade agreed to accelerate the interviews on the South Korea-Japan-kine free trade agreement for the promotion of “regional and global trade”, according to a statement published after the meeting.
Watch | A deeper view of Trump’s latest tariffs:
