China’s introductory tax comes in response to US decision to impose an additional 10% levy on all Chinese products
Are in force as of today, Monday China’s introductory duties In some American products, as the trade war between the world’s two largest economies escalates.
This decision by Beijing, taken on February 4, comes in response to the US decision to impose Additional 10% contribution to all Chinese products.
Yesterday, Trump said he would proceed in the imposition of additional customs duties of 25% In steel and aluminum imported into the US. Speaking to reporters at the Air Force One on the way to Super Bowl, he also said he is planning reciprocal duties to other nations – but did not specify what these nations will be targeted.
The most recent duties imposed by China on US products include a 15% border tax in imports of American carbon and liquefied natural gas products. 10% duties are also imposed In American crude oil, agricultural machinery and cars with large engines.
Last week, Chinese authorities launched an investigation against the American Giant Technology, Google, while PVH, American owner of branded designers Calvin Klein and Tommy Hilfiger, was added to the list of so -called “unreliable entities”.
China has also imposed export controls on 25 rare metals, some of which are essential ingredients for many electrical products and military equipment.
Trump’s announcement at the weekend on 25% tax plans on USE steel and aluminum imports comes a few days after agreements with Canada and Mexico to postpone the implementation of duties that had threatened to put all its products two countries. Similar measures also introduced during his first term as president, imposing 25% duties on steel and 10% on aluminum, but later granted several US tax -free quotas – including Canada, Mexico and Brazil.
Trump also said that vehicles import taxes remain on the table after reports that he is considering exceptions from Catholic duties. The US president has repeatedly complained that European Union duties (EU) in US cars imports are much higher than US taxes.
Last week, Trump told the BBC that imposing duties on EU goods could happen “very soon” – but suggested that an agreement could be discussed with the United Kingdom.
However, some of the many measures taken by Trump since he took over his duties on January 20 have undergone changes. Last Friday, he suspended duties in low -value product packages from China. The suspension will remain in force until “adequate systems are created for complete and apt treatment and collection of invoices”.
Source :Skai
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