In response to the customs duties ordered by US President Trump on imports from China, Beijing reacts with counter -tariffs – especially to fossil fuels. Trump indicated negotiation.
China has announced that it can raise imports to certain goods from the USA. As the Ministry of Finance announced in Beijing, additional tariffs of 15 percent are to be charged on coal and liquefied natural gas from the USA. An additional custom of ten percent should apply to oil and agricultural machines. The tariffs should therefore come into force on February 10th.
“Another relatively small cutlery that has opened Beijing”, Jörg Endriss, ARD Beijing, to China’s punitive tariffs on US products
“The unilateral increase in tariffs by the United States is a serious violation of the rules of the world trade organization,” as the Beijing Ministry of Commerce announced. Trump’s measure is not only “not helpful”, it is also a shame for economic cooperation between China and the USA. In addition, Beijing announced a antitrust investigation against the US technology giants Google. In addition, Beijing announced additional export restrictions on some so-called critical metals, which are important for the US high-tech industry, for example.
Shortly before, the deadline for avert new US tariffs against China had expired. The White House had announced on Saturday that the tariffs of an additional ten percent of Chinese imports would become effective shortly after midnight Washington’s time (around 6 a.m. German time).
US tariffs against Canada and Mexico for the time being exposed
On the other hand, Trump had not made his threat of tariffs of 25 percent of Mexico and Canada on Monday at the last minute. In return for concessions in border security and fighting crime, he agreed with the two neighboring countries to suspend the new tariffs for 30 days before the entry into force.
Trump announces talks with Beijing
On Monday, however, Trump said that the Chinese side would “probably speak in the next 24 hours”. In advance, he had justified the customs plans against China, Mexico and Canada that these countries would not be enough against the production and export of illegal fentanyl and its forerunner chemicals. The Chinese Ministry of Commerce had announced “countermeasures” and a lawsuit at the World Trade Organization (WTO) in a first reaction to the announced US tariffs.
The two largest economies threaten to head to a new trade war such as 2018 – during his first term, Trump also triggered a conflict with the imposition of tariffs. At that time, a process started, in which China and the United States covered themselves with ever further tariffs for a good two years.
The higher US tariffs burden China’s export management because they make Chinese goods more expensive and therefore less competitive on the US market.
Trump threatens EU with new tariffs – the Leyen warns
The European Union also threatened US President Donald Trump with higher tariffs – in the near future: “I have no schedule, but it will be very soon,” Trump recently said in Washington. EU Commission President Ursula von der Leyen now warned Trump on imports from Europe before the introduction of new tariffs.
“If we are specifically treated unfairly or arbitrarily, the European Union will react decisively,” she announced in the night after a top meeting with the heads of state and government of the member states in Brussels. “We are prepared.” At the same time, she emphasized that an escalation should be prevented as possible by talks as possible. If necessary, you will also negotiate.
