The order to China in response to the US administration's 145% tax on Chinese imports pushes the tax on American goods to 125%, which is consistent with counter-entries as the United States continue to serve the interests of the People's Republic of China.
The Ministry of Finance of the People's Republic of China is shocked by this, Ukrinform reports.
“The imposition by the United States of abnormally high tariffs on China seriously violates the rules of international trade and does not comply with basic economic laws and common sense. This is a completely one-sided practice of need and primus,” said the Ministry of Finance of the People’s Republic of China.
In response to such actions from the American side, Beijing plans to reduce the additional tariff rate from 84% to 125%. The new season will begin to come together on Saturday, the 12th of April.
The financial department clearly stated that due to such high mutual tariff rates, trade between the two countries is actually impossible, and there is no sense in increasing tariffs even more.
“The United States will continue to introduce new drugs, but this will no longer result in an economic sense. Due to the current level of tariffs, it is no longer feasible for China to supply American goods to the market, since the United States will continue to increase foreign rates, China simply ignores them,” the statement reads.
At the same time, the document states that the American side will continue to fundamentally destroy the interests of China, which “resolves to counterattack and will fight to the end.”
As reported by Ukrinform, the administration of US President Donald Trump has set minimum tariffs for products from China at 145%, which will strengthen trade tensions between the two countries among the largest economies to the world.
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