China announces 34% of retaliation tariffs for US import

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China announced duties of 34 percent of all US imports in retaliation to Donald Trump’s tariffs, approaching the full trade war when the US president swore that he had never withdrawn.

Global stock market markets extended their losses on Friday after Beijing’s statement, with S&P 500 dropped by 3.8 percent and all of Europe Stoxx 600 by 5.1 percent. Oil prices have fallen in fear of the global economic slowdown, and Brent Ride dropped by 7.4 percent to USD 64.96 per barrel.

“China played badly, panicked – the only thing they can’t afford!” Trump published his social network of truth just before Wall Street started trading on this day.

The new Chinese tariff matches the last increase in the US President in Beijing and is at the top of the previous round Tit-for Dad this year.

Country Ministry of Trade He said on Friday that he would be imposed on all goods imported in the USA from April 10, the day after the entry into force of “mutual” fees in America.

The Beijing movement was accompanied by a lot of other means, including the limitations of the export of rare lands and the China probe of the subsidiary of the Dupont company, the American chemical giant.

Trump said he would stay with his policy that would take part in Washington Tariffs To the highest for over a century, despite falls on Wall Street and other stock exchanges around the world.

“For many investors coming to the United States and investing huge amounts of money, my policy will never change,” he wrote. “This is a great time to enrich yourself, richer than ever before!”

According to the analysis of the Peterson Institute of International Economics, the US President’s announcement this week 34 percent of the Chinese import tariff to the US will bring the average American tariff to Chinese goods up to 76 percent.

This number is well above 60 percent Trump threatened during last year’s election campaign.

Beijing, who previously considered this level of tariffs as the worst scenario, condemned the US new duties as “a typical unilateral intimidation movement.”

He added that this week the American rounds “is not in line with the principles of international trade and seriously damages the justified laws and interests of China.”

Leah Fahy, China Economist of Capital Economics, said in the research note that the new 34 -percentage duty retalmed in Beijing crossed the average tariff of the country to US import to about 50 percent and meant “significant escalation”.

The latest funds will probably have the greatest impact on agricultural exports in the USA, including soy, wheat and corn. China It is also a significant importer of pharmaceuticals, oil, oil and liquefied natural gas from the USA.

The trade war takes place in a tender moment for the Chinese president XI Jinping, which was based on exports to direct the second largest economy in the world through the crisis and the definition of the real estate sector.

Alicia García-Herrero, the chief economist of Asia and the Pacific at Natixis, said that the last round of tariffs in Beijing suggested that she was trying to set up to be the first to negotiate with Washington.

Moving Trump on applying steep tariffs on American trading partners around the world caused that he has been killing markets. On Thursday, market value around $ 2.5 Erased from Wall Street Stocks And all the profits after the dollar elections were erased.

When the falls lasted on Friday, FTSE 100 fell by 4.6 percent, and Germany Dax lost 4.9 percent.

Investors He got into American treasuresBy lowering 10 years of performance by 0.15 percentage point on the day to 3.91 percent.

Beijing is one of the biggest goals of the “mutual” tariffs unveiled by Trumpwhich at the beginning of this year has already imposed a separate obligation of 20 percent on Chinese goods.

Andrew Gilholm, head of China’s analysis, as part of the risk of consulting control, said that Beijing could suffer “serious damage to complacency” due to fully matched American tariffs, taking into account China’s trade surplus to the USA and tariffs, which already exists.

China announced export bans on seven types of rare lands on Friday, while American technology companies, including SkyDio and Brinc Drons’ drone producers, were added to the list of “incredible entity”, which prohibits them with Chinese sales suppliers of components.