China has raised its counter-tariffs on US goods from 84% to 125% . The Ministry of Finance reported, specifying that the new measures will come into force on April 12.
The trade war between Beijing and Washington is thus escalating, with the latter having decided to suspend almost all tariffs for 90 days but maintaining those against China, increasing them to 125%.
And Beijing calls on Europe: " China and the EU should safeguard their legitimate rights and interests, fairness and international justice . They should continue to consolidate the political foundation of mutual support, trust and respect. In a trade war there is no winner and going against the world will lead to isolation."
Meanwhile, Von der Leyen , in an interview with the Financial Times, said that during this 90-day truce, Brussels will seek a "fully balanced agreement with Washington." And if it doesn't arrive , the EU is ready to introduce "a tax on digital advertising revenues" that would hit big tech , in addition to automatically reactivating the counter-duties on steel and aluminum put on hold after Donald Trump's backtracking.
"We have a wide range of measures at our disposal," warns the Commission President, reiterating that the trade war launched by the tycoon has "no winners, only losers" and that "the turbulence on the markets" shows "the costs of chaos and uncertainty".
The tax on digital advertising revenues - which would hit big US tech groups like Meta, Google and Apple - would be applied on a European scale, unlike current national taxes on digital services.
(Unioneonline/L)
