Beijing responds to Donald Trump's 10% tariffs on all Chinese imports, launching a package of measures targeting coal and liquefied natural gas (LNG) with 15% rates, plus an additional 10% tariff on oil, agricultural equipment and some automobiles. The measures, the Finance Ministry reported, "were imposed to counter" the tycoon's plans and will come into force on February 10.
The American duties, motivated by "problems such as fentanyl", are the result of a "unilateral imposition of tariffs by the United States" that "seriously violates the rules of the World Trade Organization (WTO)". The move "not only does not help to solve its own problems, but also disrupts the normal economic and trade cooperation between China and the United States", the Ministry of Finance remarked in a statement. China has also filed a complaint with the World Trade Organization (WTO) "to defend its legitimate rights and interests" accusing the United States' actions of having a "malicious nature".
I dazi di Donald Trump: politica economica o strategia politica?
Trump has accused China of not doing enough to stem the flow of the opioid fentanyl and its precursors into the United States, which kills 100,000 Americans each year. Despite Beijing's immediate countermove, negotiations are ongoing: the American president will speak with Xi Jinping in the coming days, fueling expectations in the markets that the two leaders will be able to find an agreement.
The tycoon already yesterday defined the one-month truce for Mexico and Canada of 25% tariffs, after last-minute talks with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum, who decided to send 10,000 soldiers to protect the borders against illegal immigration.
(Online Union)