The Chinese Commerce Ministry has stated that ‘necessary countermeasures’ will be undertaken if the United States plans on increasing tariffs of Chinese products.
According to reports, the U.S. plans on lifting the tariff of $200 billion Chinese exports by 25%. The Chinese ministry responded that it ‘deeply regrets’ that Beijing will in turn retaliate in the case that Trump’s tariffs are implemented.
“Escalating the trade conflict is not in the interest of the people in both countries and the world.”
The U.S. president started a discourse regarding the situation via his official Twitter account stating that he was informed on Chinese Vice Premier Liu He’s upcoming visit, who is looking to negotiate a deal despite China not being present at the previous negotiating table.
The document released Wednesday outlined the U.S. policies on tariffs for Chinese goods.
The Federal Register notice declaims, ‘In the light of the lack of progress in discussions with China, the President has directed the Trade Representative to increase the rate of additional duty to 25 percent’
on ‘Reuters Exclusive report’ + remove bracket) examined that the document was ‘riddled with reversals’ by China with the most important U.S. commitments among the chapters being overlooked or purposely edited out.
These edits, as the report states, were ‘core complaints’ addressed by the U.S. towards China and its lack of progression in coming to a deal. The seven-chapter report also included direct demands on China’s theft of U.S. intellectual property, forced technology transfers and currency manipulation – which were all ignored.
Lie He is set to arrive in Washington today for trade-deal talks and a possible agreement. Though, U.S. spokespersons expect little progress in offer proposals that could be accepted by both countries.
The U.S. government plans to put the latest tariff plans in effect by Friday – which will apply to various Chinese goods such as furniture and Wi-Fi routers.
Zakia N
Global Space 