US threatens to raise tariffs and China promises to "fight to the end" | Chronic

The United States presented Tuesday a list of Chinese imports of $ 300,000 million that may impose tariffs and the Asian country has promised "fight until the end" in his trade war with Washington, with the world economy pending on the dispute.

The US Trade Representative's Office (USTR) released its list after China announced Monday the import duties of $ 60,000 million.

In turn, this announcement followed the surprise decision of Donald Trump, to increase import duties on Chinese products by $ 200,000 million last Friday.

"China will fight to the end", said the spokesman of the Ministry of Foreign Affairs Geng Shuang.

"We have the determination and the ability to protect our interests, the Chinese countermeasures have shown our determination to guarantee the multilateral trading system"Geng added, quoted by the Xinhua News Agency.

In the White House, Trump played down the gravity of the conflict this week, which caused the markets to collapse this week. "Little fight" Between friends.

The US list, which lists 3,805 product categories, is another milestone in Trump's May 5 threat to extend tariffs by 25% to all Chinese imports, the US bureau said. in a declaration.

The note indicated that on June 17, a hearing would be held to decide how to proceed. The list "Covers essentially all products" They are not yet subject to import duties, added the USTR, which stated that it included products as disparate as laptops, saw blades, parts of the company. 39, wind turbines, tuna and garlic.

The USTR noted that it excludes rare earth pharmaceuticals and minerals used in electronic devices and batteries.

"The risk of a new escalation is far from over", Dutch company of financial services and banking ING, said in a report.

Trump wants China to change its intellectual property policies, reduce mbadive subsidies to its public companies, buy more US goods and stop foreign companies from sharing their technological secrets.

Since 2018, both parties had imposed tariffs of US $ 360,000 million on products.

A truce concluded in Buenos Aires in December between Trump and Xi to try to negotiate an agreement collapsed last Friday with the increase of US tariffs.

One of the main obstacles to reaching an agreement has been the insistence on a penalty mechanism to ensure that Beijing meets its commitments, according to US media.

Asian markets fell again due to the conflict, although the US and European stock markets recovered some, but not all, losses last Monday, when the Dow Jones Industrials sank more than 600 points At New York.

The stock market crash came after the Chinese Ministry of Finance announced that tariffs of between 5% and 25% would be applied to about 5,200 US products as of June 1st.

Trump said Asian country has unfair trade practices "for many decades" and that he believed that things "They will come out extremely well" because the wagering order is in a "very strong position".

On leaving for Louisiana, the president was consulted by journalists who won the trade war with China. "We always win"he said.

The last round of negotiations ended without an agreement last Friday, although both sides indicated that there would probably be new discussions in the future.

The US head of state said that he would meet with his Chinese counterpart, Xi Jinpingat the G20 summit to be held in Osaka, Japan on June 28-29.