1 week Ago By OB Bureau
Beijing: Even as Donald Trump claimed that world leaders are desperately trying to negotiate trade deals following his aggressive tariff policies, an equally stubborn China retaliated a second time against what they have been calling bullying tactics of the US.Faced with a staggering 104 per cent duties slapped by the US amid the ongoing trade war between the world’s two most powerful nations, Beijing hit back on Thursday with its own additional tariffs of 84 per cent on all American goods.The Chinese Finance ministry said that these additional tariffs will be imposed on goods from the US from April 10, Reuters reported.
China’s Commerce ministry announced that it has added 12 US entities to its export control list, and also included 6 American entities to its ‘unreliable entity’ list.It may be recalled that China had last week countered Trump’s ‘Liberation Day’ tariff announcements with a 34 per cent additional duties on all American goods.Trump responded by slapping 50 per cent more tariffs on China, taking the aggregate to 104 per cent.
China, which said it has the firm will and abundant means to take necessary countermeasures and “fight to the end”, has again walked the talk.And this despite Trump saying that China “played it wrong, they panicked – The one thing they cannot afford to do!”The US President’s reaction to China’s latest dare is awaited.China also stated said that it would control exports of medium and heavy rare earths, which are used in high-tech products such as computer chips and electric vehicle batteries.
“The purpose of the Chinese government’s implementation of export controls on relevant items in accordance with the law is to better safeguard national security and interests and to fulfil international obligations such as non-proliferation,” China’s Commerce ministry had said.On Tuesday, Trump said at a National Republican Congressional Committee (NRCC) donor dinner that some countries “are calling us up, kissing my a**.”Claiming that his tariff-driven strategy has put the United States in a dominant position on the global stage, Trump said, “They are dying to make a deal,” referring to governments eager to avoid punitive trade measures.
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