The Customs Tariff Commission of the State Council has informed that nand all goods originating in the USA ‘to the presently applicable work rate will be added 34 percent tariff‘. Exceptions are products that were shipped to China before 10 April and will be imported by 13 May.
The message on the Ministry of Finance's website highlighted that "there will be no exemptions or reductions in the duties imposed‘.
Chinese authorities comment on Trump's step: A practice of intimidation
At the same time, the Ministry of Finance in a separate Communication called for Washington authorities to "immediately abolish unilateral tariff measures and resolve trade differences through consultations in an equal, respectful and mutually beneficial manner".
According to the hotel in Beijing US duties are ‘typical one-sided intimidation practice"which violates global trade rules and harms China's interests and the global economy.
SEE: Donald Trump has set tariffs on deserted islands. Only penguins live there.
In addition, the Chinese Ministry of Commerce reported the entry 16 U.S. export control entities, arguing for national safety reasons.
At the same time, 11 companies from the USA, including Skydio and BRINC Drones, was placed by the Ministry of Commerce on the ‘list of unreliable entities’ for military cooperation with Taiwan. Beijing sees military contacts with Taipei as a violation of China's sovereignty.
Control of exports of uncommon earth metals
Separately, the Ministry of Commerce and the General Customs Administration announced the introduction of export controls on 7 uncommon earth metals: samar, gadolin, terb, dysprosium, lutet, scand and itr. As noted, controlled materials apply both civilian and military, and the introduction of export controls "is a common global practice‘.
‘The decision, based on the Chinese Export Control Act, aims to protecting the national safety and interests of China, as well as the fulfilment of global obligations to prevent proliferation (military measures)’, was stated.
Beijing ensures that it inactive remains brushed at abroad investments and creates a unchangeable business environment for law-abiding companies.
China one more time subject to duties. ‘Recession risk’
Trump announced on Wednesday that an additional work of 34 % will be imposed on Chinese imports. Together with the 20% tariffs implemented this year, the PRC will be charged from 5 April duties of 54 %. During Trump's election campaign announced tariffs of 60%.
After the president of the United States announced first customs duties on Chinese imports in February Beijing replied among others. 15 % tariffs on imports of coal and liquefied natural gas (LNG), and 10-percent import rates for oil or agricultural machinery.
SEE: The EU introduces a work on Chinese electricity. How are their prices based on Europe?
Double tariffs by the US met in turn duty retaliation of 10 to 15 per cent per import agri-food products from the USA.
According to Reuters, “JP Morgan’s investment bank said it now sees 60 percent of the chances of recession in the global economy by the end of the year, compared with 40% previously".
