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On April 11, China imposed 125% tariff on American goods, in response to which Trump has imposed a new tariff.
The tariff war between the US and China has moved forward. The US has now imposed 100% more tariffs on China. With this, the total tariff on Chinese goods has increased to 245%.
On April 11, China imposed 125% tariff on American goods, in response to which Trump has imposed a new tariff.
Earlier, China had said that now it will not respond to any additional tariffs imposed by the US.
China said- not afraid of trade war with America
After the announcement of the new tariff from the US, China said that we are not afraid to trade war with America. China again said that America should talk. Earlier, Donald Trump had said that China would have to start a conversation.
China’s Foreign Ministry spokesman Lin Gian said that if the US really wants to resolve the issue through dialogue and agreement, it should stop pressurizing, intimidating and blackmailing it and talking to China on the basis of equal, respect and mutual interest.
Lynn Gian told reporters that you should ask America only what will be different tax rates under 245% American tariffs. This tariff war has been started by America, not we. We are only responding to America’s action. Our steps are completely logical and legal. We are trying to maintain honesty in our country’s rights and international trade.
China refuses to take delivery of new aircraft from Boeing
A day earlier information was revealed that China has ordered its airline companies not to take delivery of new aircraft from American aircraft manufacturer Boeing. According to Bloomberg report, Beijing has also ordered to stop the purchase of parts and devices of the aircraft built in the US.
China has issued this order in response to the US 145% tariff. Boeing Airplane is an American company that produces airplane, rocket, satellite, telecommunication equipment and missiles. The company was founded on 15 July 1916 by William Boeing.
Airlines companies from many countries use plane made by Boeing. Boeing is the largest exporter company in the US and is also the third largest defense deal company in the world.
China also stopped supply of precious metals
China has also banned the export of 7 precious metals (rare economy) among this trade war. China has also stopped the magnets of magnets required to assemble from cars, drones to robots and missiles.
These materials are very important for automobiles, semiconductors and aerospace business. This decision will affect motorcycles, aircraft, semiconductor and weapon making companies worldwide. They will become expensive.
On April 4, China issued an order to ban the export of these 7 precious metals. According to the order, these precious metals and special magnets made from them can only be sent out of China with special permits. Read full news here …
China had said- American tariffs violate international rules
On 11 April, China said that unusual tariffs imposed by the US severely violate the international and economic trade rules. This is a completely unilateral pressure and a policy of bullying.
China also said that even though America may increase the tariff even more, it will not mean any meaning now. Finally, he will become a character of laughter in the history of Global Economy.
Xi Jinping said- China is not afraid of anyone
Chinese President Xi Jinping has made a statement for the first time amid a growing tariff controversy with the US. He said that China is not afraid of anyone. China’s development in the last 70 years is the result of hard work and depending on itself.
Jinping said-
China has never rely on the donation of others. Nor is it ever scared of someone’s force. No matter how much the world changes, China will not worry.
Jinping said that there is no winner in the trade war. Going against the world means going against itself. Jinping said these things during the meeting with Spain’s PM Pedro Sanchez. Sanchez arrived on a tour of China on Friday.
Sanchez is the first European leader to go to China after announcing Trump’s tariff. He has gone to China three times in the last 2 years. Sanchez also criticized Trump for the tariff.
He said on 8 April that Europe would be forced to find new markets due to Trump’s tariff. In addition, both European country and China will consider improving their relations.
China is insisting on increasing new industry and innovation
China has government bonds of about 600 billion pounds (about $ 760 billion) in the US. This means that China has a great force to influence the American economy. At the same time, China has also started its preparation.
China has given an additional $ 1.9 lakh crore loan to the industrial sector. This intensified the construction and upgradation of factories here. Huawei has opened a research center for 35,000 engineers in Shanghai, 10 times larger than Google’s California headquarters. This will speed up technology and innovation capacity.
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Donald Trump became the President of the US for the first time in 2017. Trump promised in the election that he would reduce trade deficit with China. Trump started the trade war in January 2018 with a 30% tariff on a hundreds of panels and 20 to 50% on washing machine. After this, Trump applied 25% tariff on steel and 10% on aluminum.
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