China's US counter-attack: tariff increase announced from 5% to 25% to more than 5,100 exports

China's National Tariff Commission has announced that it will set progressive tariffs between 5 and 25% to more than 5,100 US exports as of June 1st, according to the Ministry of Finance, informed the official newspaper The Global Times.

In parallel, the editor of the official media, Hu Xijin, said on Twitter that China could suspend the purchase of agricultural products and energy in the United States, reduce their purchase orders to the American company Boeing and restrict trade in services with this Western power.

China's response to Trump's decision to end the truce that the two governments signed last December in Buenos Aires on the sidelines of the G20 summit immediately shook some international financial markets and devalued the currencies of some developing countries , like Turkey and Brazil.

The Dow Jones industrial index fell 1.8% and the Nasdaq index by 2.55%, while the specialized information chain Bloomberg predicts a further collapse of the shares of the Apple company , one of the most affected by the trade war between China. and the United States.

The fear aroused in the international financial markets is not only due to China's decision to react to the break-up of Trump's truce, but also to the fact that the US president has returned today to threaten publicly Beijing.

"Many fare-based companies are going from China to Vietnam or other similar Asian countries, so China is so desperate to reach an agreement that there will be no one left in China to do business, which is very bad for China and good for the US! ", wrote on his Twitter account.

"But China has benefited so much in the United States in recent years that they have a lot of advance on us (our presidents have not done their job.) Therefore, China should not retaliation would make the situation worse! ", he continued.

"I openly say to President Xi and all my friends in China that China would suffer a lot if it did not reach an agreement because companies would be forced to leave China and go to other countries. would be very expensive to buy in China. completed and you have withdrawn! ", he added, addressing directly to his Chinese counterpart.

Despite growing tensions and further tariff escalation, both governments have emphasized in recent hours that bilateral trade negotiations are continuing.