The customs spiral continues. In response to the rates of the United States that had been in force since Wednesday morning, China again drastically increases taxes on the US input.
China’s rates rise from 34 to 84 percent, as the Ministry of Finance announced in Beijing. The new taxes apply from 10 April.
Beijing ready for conversations
Since Wednesday, the United States demand a total of 104 percent for imports from China, making Chinese goods considerably more expensive. China then stated in a white book about the new rates that communist leadership in Beijing will defend the rights of the People’s Republic. At the same time, China also meant the willingness to talk.
“China will never look”
China does not want a trade war, the State news agency Xinhua, quoted from the white book for the rates. “But the Chinese government will never assist and see how the legitimate rights and interests of the Chinese people are violated.” China thinks it is normal that there are differences and tensions between the two largest economies in commercial questions. China is ready to talk to the United States about a solution to these problems.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
