China’s Finance Ministry announced that, in reponse to US tariffs on imported Chinese goods being raised to 104%, it would raise its own tariffs on American products, effective Thursday, April 10.
China’s Finance Ministry announced on Wednesday, April 9, that it was imposing additional tariffs on American products, increasing them “from 34% to 84%,” in an additional countermeasure to a further increase in US tariffs on imported Chinese products, announced by Donald Trump on Tuesday. On Wednesday, Trump’s total 104% tariff rate on Chinese exports to the US went into effect.
“The US’s practice of raising tariffs on China is a mistake on top of a mistake, which seriously infringes on China’s legitimate rights and interests and seriously harms the rules of the multilateral trading system,” the ministry announced in a statement. It added that the increase would take effect from 12:01 pm on Thursday, April 10.
Last week, China had said it would levy 34% tariffs on all US goods in response to Trump’s announcement of tariffs on countries around the world.
How to say you want the rest of the world to effectively launch a trade embargo against your country without explicitly saying so.
Are you talking about China or the US there?
Trump slapped a bunch of tariffs on pretty much everyone except Russia. He is begging for other countries to respond accordingly.
Why aren’t they matching the 104%?
Going by game theory the most successful tactic in general is responding to escalation but not matching or exceeding it. It signals will to deescalate. China has other tools to put pressure on the US too (selling US debt).
Doesn’t China own a lot of USA assets that it could sell and cause all manner of mayhem with?
Seems to me that the USA is about to find out what it means to antagonise a country that isn’t known for blinking.
China has been antagonising the world for a long time.
The rest of Trump’s actions make no sense, but the world needs to cut China off anyway
The US cutting off the rest of the world first does the exact opposite of this. No matter how big the US is, there’s not a chance in hell the US can both compete with China and antagonize the rest of the world at the same time. This is pure fantasy.
What do all numbers end with 4?
I don’t know whether that has to do with anything, but interesting trivia nonetheless: 4 is an unlucky number in China, because it sounds similar to “death”.
no one going to outlast the US playing this game. Remember the US can print money out of thin air!
So can any nation with its own currency. Its has a cost in the value of the currency though.
That only works as long as other country view the USD as a viable reserve currency
