New Delhi: Following the imposition of hefty tariffs by the United States led by President Donald Trump, China has responded sharply, announcing a slew of countermeasures. On Friday, China’s Ministry of Finance stated that it would impose additional tariffs on the US from April 10. Trump commented on the action taken by China, saying it is panicked.
Calling tariffs by US as a “blatant” violation of World Trade Organisation rules, China requested consultations at the WTO. Trump commented on the retalitory tariff by China in his post on Social Truth, “China played it wrong, they panicked – the one thing they cannot afford to do!”
On Wednesday, the US announced a 34 per cent tariff on China in addition to the 20 per cent imposed at the beginning of this year. This brings the total tariff on China to 54 per cent. The Trump government also put curbs on the export of some rare earths.
Previously, responding to America’s 10 per cent levies on Chinese goods, Beijing imposed a 15 per cent tariff on the imports of coal and liquefied natural gas (LNG) from the US. Restricting its trade with the US, China also declared stringent control on the export of key minerals and businesses.
China’s foreign ministry said, “The US move is not in line with international trade rules, seriously undermines China’s legitimate and lawful rights and interests, and is a typical unilateral bullying practice.”
The Chinese customs halted the imports of US sorghum from C&D (USA) INC along with suspending inbound shipments of poultry and bone meal from three firms based in US.
The country also limited the exports of several medium and heavy rare earths including Gadolinium, lutetium, samarium, yttrium, terbium and scandium with immediate effect from April 4.
