Beijing:
“This is blackmail.” In this way, China had vowed to “fight the levy to the end to add the latest threat of US President Donald Trump to the end of 50 percent to the end.
If neither the side takes a nap and Trump clings to its plans, the total new levy may climb up to 104 percent of the Chinese goods imported in the United States this year, which leads to a trade war, which has already increased the largest market loss since the epidemic.
China’s Ministry of Commerce said in a statement, “The US danger to increase the tariff against China is a mistake at the top of a mistake, which once again reveals America’s blackmailing nature.” On Tuesday.
“If America emphasizes its way, China will fight till the end.”
The ministry reiterated that it demanded “dialogue” with the United States, and that “there was no winner in the trade war”.
China’s strategy
Disregard of Beijing stems itself as an opposition force from the Chinese government’s decision, which he calls the US “unilateral bullying”. Over the weekend, Beijing sent a clear message to the world that it is well prepared for a business war season.
The ruling Chinese Communist Party said in a comment in its mouthpiece, “The impact of the US tariff (on China) will be, but ‘the sky will not fall”.
“Since the United States started the trade war in 2017 (earlier) – no matter how America fights or presses – we have continued to grow and progress, demonstrating flexibility – ‘The more pressure we get, the stronger we get, the stronger we become, the more we become,” it reads further.
American China Trade War
Trump said on Tuesday that he would impose an additional 50 percent duty on US imports from China on Wednesday, if Beijing did not withdraw 34 percent tariffs on US products last week.
Those Chinese tariffs, in turn, came in response to the 34 percent “mutual” duties declared by Trump. The average American tariff on Chinese goods is already determined to climb up to 76 percent after Trump’s levy last week.
Trump’s tariff has already had a dramatic impact on the markets in the past, falling 13.2 percent on Monday with Hong Kong’s Hong Seng – the worst day since the Asian financial crisis – before bringing back some of those losses in opening the trade on Tuesday.
The move has inspired economists to question whether the White House stands to get a lot of benefits from the moving rates.
Ju Tianchen, senior economist at The Economist Intelligence Unit, said, “Since China is already facing more than 60 percent tariff rate, it does not matter whether it grows up to 50 percent or 500 percent.”
He said, “What China can do, can prevent American farming purchases, corresponds to American tariffs and expand its export control in the periodic table of chemical elements.”