
China returned to President Trump.
On Friday night in Beijing, in a fast fire series announcement of politics, including 34 percent of tariffs in the entire board, China showed that he had no intention of withdrawing at the trade war that Mr Trump had started his own steep tariffs this week from all over the world.
The Chinese Ministry of Finance announced on to said 34 percent Tariffs on goods from China with its own 34 percent of imports from imports from the United States.
Separately, the Chinese Ministry of Trade said that he adds 11 US companies to his “unreliable subjects” list, basically forbids them to operate in China or with Chinese companies. The Ministry has imposed a licensing system to limit the exports of seven rare earth elements that are mined and processed almost exclusively in China and are used in everything, from electric cars to smart bombs.
The Ministry of Trade has also announced that two trade investigations of American exports of medical painting – one of the few categories of production in which the United States remain internationally competitive.
The Chinese General Customs Administration said she would stop the import of chicken out of the five American largest exporters of agricultural goods and imports of cheese from the sixth company.
The new tariffs will hit less goods than the Tariff of President Trump just because China sells much more to the United States than it buys. Last year, China bought $ 147.8 billion in US semiconductors, fossil fuels, agricultural goods and other products. He sold smartphones, furniture, toys and many other products worth $ 426.9 billion.
China is an American second largest source of imports, after Mexico and the third largest export market, after Canada and Mexico.
But while the Tariff of President Trump excluded some large categories of imports, such as semiconductor and medication, Chinese tariffs have no exemption.
Beijing’s procedures launched a Sharp decline Futures for US shares in the market, indicating that Wall Street can open suddenly after publishing its worst one -day result from 2020 on Thursday.
The Chinese Ministry of Finance announced a statement strongly criticizing Mr. Trump’s tariff, which will begin to enter into force on Saturday and start next Wednesday. “This practice is not in accordance with international trade rules, seriously undermine legitimate Chinese rights and interests and is a typical unilateral practice of mistreatment,” the Ministry said.
Chinese tariffs should take effect next Thursday – 12 hours after US tariffs take effect.
Jude Blanchette, director of Rand China Research Center, said Chinese strong response was “inevitable” after Mr. Trump introduced his caring tariffs.
“Beijing can no longer maintain fiction that diplomatic engagement with Trump’s administration will prevent a commercial war as a whole,” said Mr. Blanchette. “Despite the White House warnings against retaliation, the overall tariffs imposed on China are now so significant that Beijing has no reason to refrain.”
The escalation cycle also further darkens the hope of any summit soon between Mr. Trump and Chinese Best Leader, XI Jinping. The assistants of Mr. Xia were Careful to schedule any meeting Between the two men, unless a detailed plan and resolving the waiting problem can be elaborated in advance.
The opposite measures on Friday emphasize the retaliation of the tools of the tools at the disposal of China, one of the reasons why Beking believes that he is better ready during the trade war with the United States than was the case during the first Trump administration, said Wang Dong, Executive Director of the Institute for Global Cooperation and Understanding at Beijing University.
“If the hope of Trump’s administration is pressing to the cinema to rush, it will be a non-stain,” he said.
Mr. Wang said Beijing also bets that Mr Trump will be at home at increasing pressure to alleviate some of his tariffs because of the damage he could do to the American economy.
“China is in a better position to win this circle of trainee trade,” Mr. Wang said.
Mr. Trump claimed that the steep tariffs were crucial to stopping a long fall of American stake in global production, protecting the US market from the import of imports. The White House also said that the tariffs were needed to preserve the remaining industrial capacity of the United States to make ammunition in the case of military conflicts.
Chinese ambitious industrial policy “Made in China 2025”, which began in 2015, made this country greatly confident in the production of many industrial goods, from electric cars to solar panels. While Chinese officials were captured by Mr. Trump’s trade actions in 2018 and 2019, and sometimes it took them a few days to answer, they started much faster this year.
They behaved on Friday, 36 hours after his latest tariffs, although it was a national holiday.
But the Chinese economy depends largely on the export, which is why Mr. Trump’s tariffs have caused alarm in Beijing and across the country. Chinese trade surplus last year in the goods produced – the amount with which exports exceeded imports – was equal to tenth of the entire economy and increase.
Chinese officials said this week that if the tariffs limit their access to the US market, export to other markets. But China is already leading great and wider excess with most of Europe and the world in development, launching a wave of tariff by countries elsewhere on Chinese goods.
China was more cautious about responding to these tariffs, as she tried to portray Washington as a leading global shift towards protectionism.
Mr. Trump also imposed steep tariffs this week imports from dozens of other countries. Many of these countries rely on the leading of large trade surpluses with the United States to pay their large trade deficit with China.
Some of these countries – such as Vietnam, Cambodia, Malaysia and Mexico – buy huge amounts of components from China for the assembly in finished goods for sale in the United States, and few or no paid tariffs. If the new US tariffs remain in force, Chinese exports to these countries can also dry.
The Chinese new export licensing system for rare country metals can stimulate further difficulties for the US industry, and perhaps for companies in Europe and elsewhere. The previous introduction of export permits for other minerals resulted in months of delays because civil servants and companies understand new rules.
China has imposed a two -month freezing of the shipment of rare countries in Japan in 2010 during the territorial dispute.
The Obama administration replied, urging the United States to restart their own mining and the cultivation of rare countries, which were mostly extinguished in the 1990s. But 15 years after the embargo in Japan, mining continued in the United States, but most Rude was shipped to the cinema for processing into valuable materials, as rare countries have proven to be technically challenging.
Claire fu Contribute to reporting from Seoul.