After the “correction” of the American rates imposed on up to 145 percent, the government in Beijing now follows: the opposed time on American goods have now increased to 125 percent. Now the rates have reached a level on which there is no longer any market acceptance for American goods that would be exported to China, said the customs committee of the Chinese State Council.
US President Donald Trump had previously announced that the rates for import from China will rise to 125 percent. The US government then announced that it was not calculated for an amount of 20 percent. This means that the special customs against China is now 145 percent, while Trump has temporarily suspended certain surcharges for other countries.
Trump accuses China of “lack of respect”
Trump justified the step with the fact that China brought the world markets “lack of respect”. Beijing had previously made it clear in response to the American customs tasks of the past days that it was ready to “fight to the end” and accused the US “extortion”.
Chinese plan High meetings with EU
At the same time, China advertises better relationships from other trading partners. During a meeting with Spanish Prime Minister Pedro Sánchez, Beijing spoke to working with the EU in the worldwide trade conflict. Before that, EU trade commissioner Maros Sefcovic and the Chinese Trade Minister Wang, Wang Wentao, also spoke about more economic exchange on both sides. According to media reports, a high-ranking visit of EU representatives in Beijing could also be in July. As the “South China Morning Post” reported, a journey from the President Ursula von der Leyen and EU Council President António Costa is planned.
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.
