China Vows Retaliation Against Trump’s 50% Tariff Threat
China has strongly opposed the recent threat by former U.S. President Donald Trump to impose a 50% tariff on Chinese goods, promising a robust retaliation if the tariffs are enacted. Trump's proposal, which he reiterated during a recent speech, aims to protect American industries but has sparked significant tension with China.
Chinese officials have declared their readiness to 'fight to the end' if the U.S. proceeds with the new tariffs, signaling a potential escalation in the ongoing trade war between the two economic giants. The Chinese Ministry of Commerce emphasized that such actions would harm global trade and economic stability.
Trump's rejection of zero tariffs and his threat to increase tariffs on Chinese products have been met with criticism from various sectors, including U.S. businesses that rely on Chinese imports. Analysts warn that a new round of tariffs could lead to increased costs for American consumers and further strain international relations.
Related issues news
Does China tariff the United States?
So far, China has either imposed or proposed tariffs on $110 billion of U.S. goods, representing most of its imports of American products.
What is the tariff?
Tariffs are taxes charged on goods bought from other countries. Typically, they are a percentage of a product's value. For example, a 25% tariff on a $10 (£7.59) product would mean an additional $2.50 (£1.90) charge. Companies that bring the foreign goods into the country have to pay the tax to the government.
What is anti-Trump?
The Never Trump movement (also called the #nevertrump, Stop Trump, anti-Trump, or Dump Trump movement) is a conservative political movement that opposes Trumpism and U.S. president Donald Trump, and in general supports a return to a more rules-based internationalist, norm-following, ideologically conservative-oriented ...
When did tariffs on China start?
Chinese products. On March 22, 2018, Trump signed a memorandum under the Section 301 of the Trade Act of 1974, instructing the United States Trade Representative (USTR) to apply tariffs of $50 billion on Chinese goods. Trump said the tariffs would be imposed due to Chinese theft of U.S. intellectual property.
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