China has announced a resolute and effective response to protect its own interests after the US imposed a 104 percent tariff on imports of goods from China, a spokesperson for the Chinese Foreign Ministry said at a press conference, according to the Reuters news agency.
- The US continues to abuse tariffs to pressure China. China strongly opposes this and will never accept this form of bullying, said spokesperson Lin Jian.
US President Donald Trump has taken his threats seriously and imposed a 104 percent tariff on imports of goods from China. China is thus the country in the world hardest hit by the increased tariffs from the US. The world's two largest economies are locked in a tariff war. According to the BBC, China and the US together account for 47 percent of the world's total exports. of global trade.
The Chinese Ministry of Commerce said on Wednesday that China will "fight to the end" if the United States continues to escalate the trade war, writes the AFP news agency. The US president believes that his policy will revive the US economy and create jobs by forcing companies to move their production to the United States.
But many business experts and economists question how quickly - if ever - this can happen. Several experts warn of higher inflation as the increased tariffs raise prices. The risk of a recession is increasing, assess several major investment banks in the United States.
It is not only China that has been hit by increased tariffs from the United States on Wednesday. Donald Trump has introduced American tariffs on imports of goods from countries all over the world. EU countries, for example, will be hit by a tariff of 20 percent. The increased tariffs have sent shock waves through stock markets around the world.
jel /ritzau/
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