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China promised yesterday to respond to Donald Trump's government plans to impose tariffs on another 200 billion dollars of imports from the Asian country, in an escalation of the trade war between the two largest economies in the world.
Beijing claimed that the latest US measure is "totally unacceptable" harbadment and urged other countries to unite to protect free trade and multilateralism.
China also promised to file a complaint with the World Trade Organization, but did not say what steps it would take in retaliation.
"China is surprised by the latest actions of the United States," said the Ministry of Commerce in a statement posted on its website.
"To protect the interests of the country and its people, the Chinese government is obliged, as in the past, to retaliate."
This response came only hours after the Trump administration released a list of thousands of products to which it plans to charge a 10% rate.
The list includes everything from vacuum cleaners to windshield wipers, silver spoons and thongs. The United States has omitted prestige products such as mobile phones from the list.
Li Yong, senior researcher at the China International Trade Association in Beijing, explained that a retaliatory measure that the Asian country could use is to adopt a new plan for attract more foreign investment, but not the United States.
"The United States has closed the door to negotiations," said Li. "It's up to them to open it again."
Some of the products taxed by the EU from China in the new list:
Human Hair
Birds of Birds
Bright Trout
Carps at Fat head
Animals of the bovine species,
fresh or chilled
Frog legs
Sweet potato
Cloves
Petroleum oils
storage batteries of 39; acid (used to start piston engines)
Radio Frequency (RF) interaction structures for micropicillary tubes
Natural sponges of animal origin
Taximeters
Collections and collections and zoological, botanical, mineralogical, anatomical, historical, archaeological pieces
Antiques from over one hundred years
Ginseng Roots
Cream Separators
Malanga
Hideskins
Sanitary containers for Food and Beverage Paper and Paperboard
Semen de bovi
Pumice Stone
Handbags, Gloves, Belts
Golf Bags
High-Level Discussions Break
According to Sources consulted by Bloomberg, high-level talks between the United States and China were mired in new threats.
The two countries have held three rounds of formal negotiations since May, led by Steve Mnuchin, Treasury Secretary, Wilbur Ross, Commerce Secretary, and Liu He, Deputy Prime Minister of China. However, ministerial communication between the United States and China has stopped and there are no immediate plans to restore it, the sources badured Bloomberg.
"It is extremely important that when both governments enter these kinds of situations on the official front, they have behind-the-scenes conversations that allow them to declare that there is a ceasefire" said Rufus Yerxa, chairman of the board. United States national foreign trade.
Yuan enters the abduction
A new player enters the trade dispute between the two largest economic powers of the world: the yuan.
In the last three months, the Chinese currency depreciated 6.36%, reaching its lowest level since August 2017. What some badysts call the weakness of this currency because the Asian giant means higher competitiveness in their exports.
The currency served as a variable of adjustment to amortize the commercial attacks of the administration of Donald Trump which already increased the customs tariffs $ 37 billion to the products of this country.
In trade, China could apply US tariffs in the amount of 129 thousand 894 million dollars, which corresponds to its imports from that country, according to the US Census Bureau.
Meanwhile, the administration of Donald Trump has a bigger margin, to be able to punish the Asian giant with tariffs for an amount of 505,470 million dollars, which increased their purchases made at the second global economy during last year.
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