The announcement of US President Donald Trump to levy import tariffs on Chinese products, among others, led to a great dismay at the Chinese Ministry of Commerce. This writes, among other things, AP on Sunday morning. China announces “to go into opposition” against the measures and goes to the World Trade Organization (WTO) because of “unlawful practices of the US.”
Just like Canada and Mexico from Tuesday, China will have to deal with the import duties that the Trump government recently announced. Canada and Mexico also announced countermeasures. For China, the levies mean that the country will have to pay an additional import rate of 10 percent. These are on top of the existing rates on Chinese products.
The Chinese Ministry of Foreign Affairs emphasized on Sunday that “there are no winners in a trade war or rates war.” But by entering rates, economists fear that the world economy will suffer damage.
For example, from Tuesday, by way of retribution, Canada sets taxes of 25 percent on around 155 billion Canadian dollars in US imports. Mexican President Claudia Sheinbaum is up X Not so clear about the precise measures against the US, although she does want to take import duties and other measures to defend “the interests of Mexico”.
Live blog
American politics
Trump signs Decree: Import duties of 25 percent for Mexico and Canada