Trump Threatens Huge Tariffs on China in Response to Its Retaliation
On Monday, President Trump issued a new ultimatum in China: revoke his retaliation rates or face a 104 % tax on his exports to the United States starting this week.
The president’s threat risked another great escalation in what has already become an expensive and harmful global commercial war, which broke the financial markets while countries around the world climb to calibrate a response to Washington.
After Mr. Trump announced last week that he would have imported a new 34 % rate on China, Beijing replied in forcethreatening to impose a 34 % tax on US imports.
In response, Mr. Trump said on Monday in A Placed on social truth that the United States “would impose further rates on China by 50%, in force since April 9”. The officials of the White House subsequently clarified that the rate would have been additive, potentially bringing the total taxes that Trump has imposed on Chinese imports since he entered in charge 104 percent.
These withdrawals would come beyond the rates that Trump has put on many products from China in his first term, together with the rates that apply to individual products due to specific trade violations.
The escalation could lead to a huge supplement for importers who bring clothes, cell phones, chemicals and machinery from China, which could see the cost of their double imports. Last year American consumers purchased $ 440 billion from China, the second largest source of US imports after Mexico.
The president also threatened that the talks with China “will be interrupted!” If Beijing did not withdraw from his commitment to take revenge.
In making this threat, Mr. Trump seemed to issue a clear warning to nations all over the world that would have issued punishments of further rates if the US commercial partners had tried to reject his policies. His comments brought a particular urgency in a day that the officials of the Planned European Union To circulate a list of US products that could soon subject to rates.
Trump explicitly reported to his previous threat that “any country that takes revenge against the United States” would be “immediately met with new and substantially higher rates, in addition to those initially established”. But he also said that negotiations would start with “other countries” to start immediately.
Jeanna Sperslek Contributed relationships.
