China recovers with rates of 34 % on US goods

Singapore: China saved with a 34 % rate on all American goods, combining the last salvo of the Trump administration in a growing commercial war that has triggered a repercussions all over the world, the saved stock markets and intensified fears of a global recession.

China has announced the rates on the whole edge on Friday evening, in force since April 10, together with a series of other measures, including the addition of 11 other American companies to a black commercial list that prohibits them for investments in China or trade with Chinese companies.

The Ministry of Commerce of Beijing has also affirmed that it will impose more export checks on rare lands, which are materials used in high -tech products such as computer chips and batteries for electric vehicles.

Beijing’s response, up to now more complete in the Tit-Per-Tat Tat-Tat exchange, has no intention of surrendering to the punitive commercial measures of the President of the United States Donald Trump.

The much praised perspective of a meeting between Trump and Chinese President Xi Jinping, which the President of the United States himself favored by doing in his first months in office, is faded from a point of view when commercial tensions increased.

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China’s response comes a day after the United States imposed further on 34 % of large rates on Chinese imports, adding 20 % imposed at the beginning of this year, as part of the “Liberation Day” fury of the President of the United States who did not spare any nation, including Australia, which was hit with 10 % rates on its imports related to the United States.

It is the first time that Beijing re -ings with rates on the whole edge, having so far preferring target select industries and goods for further duties in response to the previous Trump tariff ads.