China Pledges Countermeasures Against Trump’s Sweeping Tariffs
China has announced plans to implement countermeasures in response to the sweeping tariffs imposed by former U.S. President Donald Trump. The decision comes after Trump's administration introduced tariffs on a wide range of Chinese goods, escalating tensions between the two economic giants.
The Chinese Ministry of Commerce stated that these countermeasures are necessary to protect national interests and maintain economic stability. The specifics of the countermeasures have not been detailed yet, but they are expected to target American exports to China.
Trump's tariffs, which were part of his broader trade war strategy, have been a point of contention since their introduction. Critics argue that they have led to increased costs for American consumers and strained international relations. Supporters, however, believe they are essential for protecting American industries from unfair trade practices.
The ongoing trade dispute has significant implications for global trade dynamics and could influence future economic policies between the U.S. and China. Both nations are expected to continue negotiations to resolve the issue, but the immediate focus remains on the potential impact of China's retaliatory measures.
Detailed
Related issues news
Does China have a tariff on the US?
So far, China has either imposed or proposed tariffs on $110 billion of U.S. goods, representing most of its imports of American products.
Does China have tariffs?
China Customs assesses and collects tariffs. Import tariff rates are divided into six categories: general rates, most-favored-nation (MFN) rates, agreement rates, preferential rates, tariff rate quota rates, and provisional rates. As a member of the WTO, imports from the United States are assessed at the MFN rate.
What are the tariffs on US goods?
A tariff or duty (the words are used interchangeably) is a tax levied by governments on the value including freight and insurance of imported products. Different tariffs applied on different products by different countries.
What do the tariffs do?
These tariffs adjust for the unfairness of ongoing international trade practices, balance our chronic goods trade deficit, provide an incentive for re-shoring production to the United States, and provide our foreign trading partners with an opportunity to rebalance their trade relationships with the United States.
Latest
Ja Morant Fined $75K for Repeating Finger Gun Gesture
12 minutes agoNintendo Switch 2 Faces Delays and Technical Challenges
20 minutes agoTrump Fires NSA Director Timothy Haugh Amid Controversy
26 minutes agoCan you Like
