China is moving ahead with a new tariff increase on US goods, from 84% to 125%.
The new tariffs will take effect on Saturday, the Chinese Ministry of Finance announced Friday.
At the same time, it added that if the US insists on continuing to violate China’s interests, Beijing will take countermeasures and “fight to the end.”
“The imposition of unusually high tariffs by the US on China seriously violates international trade rules, basic economic laws and common sense, and is completely unilateral intimidation and coercion,” the Chinese ministry added.
It is recalled that yesterday the Trump administration confirmed that the US tariff rate on Chinese imports is now effectively 145%.
Beijing’s new appeal to the World Trade Organization over Trump’s tariff increases
In the meantime, almost simultaneously with the announcement of additional tariffs on imported American products, the Chinese Ministry of Commerce announced that it was filing a new appeal to the World Trade Organization over the US tariff increases.
“Together to oppose US bullying” is Xi Jinping’s message to Europe
In the meantime, Chinese President Xi Jinping sent a message of cooperation to Europe earlier, welcoming Spanish Prime Minister Pedro Sanchez to Beijing, as he called for a united front against the “unilateral bullying practices” by the US due to Trump’s tariffs.
“There are no winners in a tariff war,” said the Chinese president, who called on the European Union “to jointly oppose unilateral bullying practices.”
“Going against the whole world will only lead to isolationism,” added Xi Jinping.
For his part, Spanish Prime Minister Pedro Sanchez defended the rapprochement with Beijing, saying “Spain sees China as a partner of Europe.” “We want to work on issues of common interest, promote trade and investment in a balanced way to benefit the development of our countries based on our respective visions, and we want to forge closer ties between our societies,” Sanchez added.
“The more turbulent the global situation, the more important it is to have good relations with Spain,” the Chinese president replied.
The Chinese leader noted that this was Sanchez’s third visit to his country in as many years, adding that strengthening bilateral relations in the current global context promotes peace, stability and prosperity.
Xi added during their meeting that his country, the world’s second-largest economy, intends to “build a more strategically focused and dynamically integrated strategic partnership” with Spain.
