China blasts US over 245% tariff hike, demands an end to threats

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China slammed Washington’s tariff increase on Wednesday, which revealed that some Chinese goods now face up to 245 % duties, and urged the United States to eliminate its tactics and threats.

The White House said in a facts sheet on Tuesday that the rates were “the result of its retaliation”.

According to the Oval Office, Beijing depends on the first step to end the conflict, which is warned by economists that it can lead to global recession.

“The ball is in China’s court,” a statement read by the press secretary Karoline Levet said. China needs to agree with us. We do not need to deal with them. “

President Donald Trump has slapped new prices alike on friends and enemies, but has saved its heaviest invaders for China, even many Chinese imports have a new income of up to 145 %, even with Beijing responding with 125 % duties on US goods.

Foreign Ministry spokesman Lin Jian said, “If the United States really wants to resolve the issue through dialogue and dialogue, it should stop pressing, threatening and blackmailing, and should talk to China on the basis of equality, respect and mutual benefit.”

“China’s position has been very clear. There is no winner in tariff war or trade war,” Lin said: “China does not want to fight, but is not afraid to fight.”

The Beijing Ministry of Commerce said in a statement on Wednesday that it “has reached 245 percent of the total revenue on some individual Chinese exports to the United States under different positions”, without details of the scope of the affected products.

The ministry said, “The United States has fully raised prices and is made of weapons.”

The Republican initially imposed 20 % taxes on imports from China on its alleged role in the Phantenal Supply Chain, at the top of the previous administration’s duties, then added 125 % of the trade methods, which Washington considers unfair.

However, their administration has recovered some tech products such as smartphones and laptops.

China growth

China said on Wednesday that its economy predicted 5.4 percent in the first quarter, when exporters arrived to extract goods from the factory gates before the US Levies.

“The growing increase in April is felt in the second quarter data, as prices will find other suppliers on the side of the state, which will hinder Chinese exports and break the investment,” Harun Lem, a Moody analytics, told AFP.

Japan’s envoy for Wednesday talks in Washington said he was optimistic about the “win” results for both countries.

Russian Akazawa, who was to meet US Treasury Secretary Scott Basant, said he would “protect our national interest”.

Carmeker Honda said on Wednesday that it would transfer the manufacture of its hybrid Civic model from Japan to the United States, though it represents a very small part of its global production.

A Japanese firm spokesman said that “there is no problem” behind the decision. “This decision is based on the company’s policy since the basis we make cars where we demand.”

South Korea, especially another major exporter of semiconductions and cars, said that Finance Minister Choi Sang Mock will meet Basant next week.

“The current priority is to use negotiations on Tuesday … to delay the implementation of mutual taxes and reduce uncertainty for Korean companies not only in the United States but also in global markets,” Choi said on Tuesday.

Trump has imposed duties on imports from China since the beginning of the year, as well as his 10 % “baseline” tariff as well as many US trade partners.

Their administration has recently increased its exemption from these rates, in which some tech products such as smartphones and laptops have been dropped from the global 10 % tariff and 125 % levy on China.

NVIDIA said it was expected to succeed $ 5.5 billion due to a new US licensing requirement on the primary chip sold in China in China.

Trump also ordered an investigation on Tuesday, which could result in taxes on smartphones such as important minerals, rare land metals and its affiliated products.