[ad_1]
China has threatened to “take determined countermeasures” in response to Donald Trump’s threat of an extra 50% tariff for Chinese imports.
In a statement, the Ministry of Trade said that the US imposition of ‘so -called’ reciprocal rates ” on China is “completely unfounded and is a typical unilateral bullying practice”.
This indicated that more retaliation rates could come in the future.
“The countermeasures taken by China are aimed at protecting its sovereignty, safety and development interests and maintaining the normal international trade order. It is completely legal,” the ministry said.
“The US threat of raising rates on China is an error above an error and once again exposes the blackmail of the US. China will never accept it. If the US insists in its own way, China will fight to the end.”
Trump rates: Follow the latest updates
Mr Trump’s The threat, delivered on social media, came after China said it would re -pay against the US rates announced last week.
“If China does not withdraw its 34% increase above their long -term trade by tomorrow, April 8, 2025, the United States will impose additional rates on China of 50%, with effect from April 9,” he wrote on Truth Social.
“In addition, all conversations with China will be terminated about their requested meetings with our!”
As Mr. Trump implemented his plans, that would mean that US rates on imports from China would reach a joint 104%.
The new tax will be piled up on the 20% tariffs announced as punishment for what the president considers to be the role of China in the US Fentanyl crisis, and its separate 34% rates announced last week.
Read more:
Great economic shock that occurs as a result of Trump
Is that the beginning of an ‘economic nuclear winter?’
Global Bank Chiefs hold talks about the rates crisis
Asian markets rally
It came when Asian markets opened higher Tuesday.
Japan’s Nikkei 225 share benchmark rose 6% after falling almost 8% per day earlier and traded the wider Topix 6.8% higher.
The US semiconductor index climbed 2.7% overnight, while the S&P and Nasdaq Futures each in the trade in Asia increased more than 1%. South Korea’s KOSPI has achieved 2% and markets in Australia and New Zealand were also higher.
Analysis: Rates can disclose one of the most painful episodes in modern times
Use Chrome browser for a more accessible video player
Trump’s rates: What you need to know
Most US markets down
Asian markets plunged on Monday, with shares in Hong Kong falling 13.2% on their worst day since 1997 during the Asian financial crisis.
Most US markets were lower on Monday, with the S&P 500 closing 0.23% lower the day, while the Dow Jones industrial average ended 0.91% lower – although the Nasdaq ended in a positive area, by 0.10%.
The British measure supply index, the FTSE 100, closed 4.38% lower -one of the largest declines in years, in line with the traps seen in the early days of Covid -19 closures, but less steep than the loss of 4.95% on Friday.
Use Chrome browser for a more accessible video player
Trump: ‘No Pause to Rates’
“We can no longer be the stupid people”
Mr Trump excluded that he interrupted his livestock rates Monday night and say, “We don’t look at it.”
He said the affected countries negotiated with his administration, which he believes will try “fair transactions” with each one.
“We’re going to get fair transactions with every country, and if we don’t, they won’t be able to participate with the US,” he added.
Mr. Trump also claimed that the US was “ripped off by many countries over the years”, adding: “We can’t do it anymore. We can no longer be the stupid people.”
[ad_2]
Source link
