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China has asked the US to completely cancel the wrong practice of reciperook tariff.
The Commerce Ministry of China appealed to the US on Sunday to completely cancel the reciperoke (eg Tit) tariff. President Trump has yesterday excluded smartphones, laptops and other electronics equipment for tariffs.
The Chinese Ministry said-
Only the person who has tied the bell tied around the lion’s neck. We appeal to the US to take a big step to rectify their mistakes. The recipes should completely cancel the wrong practice of the tariff and return to the path of mutual respect.
China said that they are currently evaluating the decision to keep electronics goods out of tariff, as most of the Chinese goods are still suffering 145% tariffs.
China Appeal- United against American’s economic bullying On Friday, China increased the tariff on American products from 84% to 125%, while the US increased the tariff on Chinese products to 145%. China also appealed to other countries to unite against Trump’s economic bullying.
The Chinese Commerce Ministry had issued a statement on Friday that if the US is adamant on violating China’s interests, China would firmly attack and fight till the end.
American tech companies relief from exemption from electronic goods The US Customs and Border Petrol (CBP) issued a notice yesterday saying that smartphones, computers and other electronic equipment have been exempted from reciperoot tariffs. In the CBP notice, semiconductor, solar cell, flat panel TV display, flash drive and memory card were also exempted. This decision is considered to be a big relief for many American tech companies.
These companies recently expressed concern that the decision of tariffs could increase the prices of electronics in the US, as many products are made in China.
The biggest relief to Apple Electronics product making companies are especially considered to be a big relief in tariffs for Apple. Ever since the US increased tariff rates to 145%, Apple was facing an import tax of about $ 700 on every iPhone of $ 1 thousand. According to media reports, 90% of iPhones are made in China only.
In CBP notice, semiconductor is also excluded from the baseline 10% tariff and 125% extra tariff imposed on China on most American trading partners.
China had said- will fight till the end instead of bending Amid the ongoing Tariff War with the US, China said a few days ago that it would choose to fight till the end of the US instead of bending. Chinese Foreign Ministry spokesman Mao Ning said that China is not afraid of provocation, it would not back down.
Mao Ning shared many posts on social media. It also had a video of Mao Jedong, a former Chinese leader. Mao is saying in it- we are Chinese. We are not afraid of provocation. We do not back down. The video is from 1953 when China and the US were indirectly face to face in the Korean war.
In the video, Mao says- We cannot decide how long this war will last. It depends on the President Truman or Eisenhwar or the new President. No matter how long this battle goes, we will never bow down. We will fight until we win completely.
Mao Ning shared a picture in another post. It states that American will buy only Chinese goods even after the price is expensive.
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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Trump removed the recipe-rich tariff from the smartphone-computer: also exemption to semiconductor, solar cell and memory card; Relief to American tech companies from the decision
US President Donald Trump on Saturday exempted smartphones, computers and other electronic equipment from the reciperook (such as Ko Tit) tariff. This announcement was made at a time when the US had put the most tariff on foreign goods in a century. Read the full news here …