US tariffs come into effect and China promises to retaliate

Although trade negotiations are still ongoing, the entry into force on Friday in the United States of punitive new tariffs on Chinese products has generated an immediate response from Beijing, which promised "retaliatory measures." China "will have no choice but to take the necessary retaliatory measures"The Chinese Ministry of Commerce said shortly after midnight in Washington when the US administration officially raised the $ 200 billion tariff on Chinese exports to the United States from 10 percent to 25 percent.

President Donald Trump had suspended the increase in January to allow trade negotiations between the two countries, plunged since last year into a trade war threatening the global economy. But finally decided to implement them, believing that the talks are not progressing enough and calling into question the good faith of the Chinese negotiators. The reactivation of the trade confrontation between the two powers has disrupted the global financial markets all week.

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Reinforced however by the continuation of the negotiations, The Chinese bags have evolved positively Friday noon. The entry into force of this measure comes hours after US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin "organized a working dinner with Chinese Vice Premier Liu He". in Washington. who agreed to continue the talks Friday, according to the White House.

Liu He, however, said on Chinese public television, before talks began Thursday, that an increase in tariffs was "detrimental" to both economies. Nevertheless, the Chinese official he felt that the negotiations were "promising" and badured that he had gone to Washington "with sincerity". Indirectly, he referred to Lighthizer and Mnuchin's allegations that they said on Monday that China had rescinded agreements reached in previous rounds of negotiations, stating that Beijing was unfounded.

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"It's still possible"

On Thursday, the dialogues resumed in a climate of relative calm, with Trump stating that an agreement "is still possible". "It's possible to do it," he said. "I received a beautiful letter from President Xi (Jinping) .Work together to see if anything can be done," said Trump, while stating that he was more than happy to resort tariffs to resolve conflicts with China.

The burden on the negotiators is important because they have to reshape the trade relations between the two major world economies, which challenge the field of high technology. Washington calls for the reduction of the huge trade deficit with China, that Beijing respects the principles of the market, reduces its mbadive subsidies and puts an end to the alleged theft of American technology.

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China "will not capitulate"

Earlier, the Chinese Ministry of Commerce said Beijing would "capitulate to no pressure" and threatened retaliation after highlighting the drastic deterioration of the talks. Since last year, the two powers have reciprocally applied customs duties of $ 360,000 million on goods.s; harming American agriculture and the manufacturing sectors of both.

The US Department of Commerce reported that in March, the trade deficit with China was the lowest of the last three years due to rising exports and declining imports, especially for items such as phones. The Chinese "do not see themselves as fragile and think that the United States is growing at a steady pace because of tax cuts that they can not continue to cope with," he said.

China announced on Friday that it would take retaliatory action a few minutes after the entry into force of customs duties. "China deeply regrets it and will have no choice but to take the necessary retaliatory measures"said the Chinese Ministry of Commerce in a brief statement, without specifying these measures "We hope that the United States and China will come together and work together to solve the existing problems of cooperation and consultation", has it -he adds. Chinese Trade Minister

S.D.