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Commercial War: China Counterattacks Against Washington by Taxing 128 Products

In response to tariffs imposed by the Trump administration on steel and aluminum imports, Beijing is taking action against 128 US products. In the sights of the Chinese authorities include: fruits and pork.

Beijing on April 1 triggered punitive measures against 128 US products in response to Donald Trump’s announcement of tariffs on steel and aluminum imported into the United States . These measures follow several weeks of bilateral tensions , fueling the fear of an open trade dispute between the two world economic giants.

Credit: AFP

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The Trump administration decided in early March to impose tariffs on imports of steel and aluminum in the name of “national security”. An argument ruled on 1 April by the Chinese Ministry of Commerce as “an abuse” of the rules of the World Trade Organization (WTO).

“[US measures] are directed only against a few countries. They are a serious violation of the principle of non-discrimination, which is the foundation of the multilateral trading system. They seriously undermine Chinese interests, “denounced the ministry in a statement posted on its website.

The new Chinese taxes, imposed by the commission on tariffs within the Council of State (government), concern various products ranging from fruits to pork.

Beijing says it hopes for a “normal resumption of Sino-US trade”
“We hope that the United States will abandon its WTO-infringing measures as soon as possible, in order to allow the normal resumption of Sino-US trade for the products concerned,” said the Chinese Ministry of Commerce. “Cooperation between China and the United States, the world’s two largest economies, is the only option,” he added.

Donald Trump regularly makes a colossal US trade deficit with China a hobbyhorse. He announced on March 22 that the United States would impose new taxes on some $ 60 billion of Chinese imports.

The following day, Beijing responded by unveiling a list of 128 products on which it claimed to want to apply customs duties from 15% to 25% in case of failure of negotiations with Washington. China then asked Washington to stop what it called “economic intimidation,” and threatened with retaliation.

So far, Beijing has been careful not to tackle major agricultural products, such as soybeans, or major industrial companies such as the giant Boeing, areas that could now also be targeted, writes the daily newspaper. Chinese official Global Times .

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Written by How Africa

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