China Raises Duties On US Goods To 125%, Calls Trump Tariff Hikes A 'joke' - Foreign Affairs - Nairaland
Nairaland Forum › Nairaland General › Politics › Foreign Affairs › China Raises Duties On US Goods To 125%, Calls Trump Tariff Hikes A 'joke' (293 Views)
| China Raises Duties On US Goods To 125%, Calls Trump Tariff Hikes A 'joke' by fineboynl(op): 12:05pm On Apr 11, 2025 |
China raises additional duties on U.S. goods to 125% Beijing calls Trump's tariff increases 'a joke' China says it will not respond to any further U.S. tariff hikes and calls it a numbers games as it simply means no deal. China seeks to rally support among other trading partners BEIJING, April 11 (Reuters) - China hiked its levies on imports of U.S. goods to 125% on Friday, hitting back at Donald Trump's decision to single out the world's No.2 economy for higher duties, while dismissing the U.S. president's tariff strategy as "a joke." Investors had been waiting to see how Beijing would respond to Trump's move on Wednesday to effectively raise tariffs on Chinese goods to 145% while announcing a 90-day pause on duties on dozens of other countries' goods. The yuan slipped to levels last seen during the global financial crisis on Thursday but rebounded slightly on Friday. "The U.S. side's imposition of excessively high tariffs on China seriously violates international economic and trade rules, runs counter to basic economic principles and common sense, and is simply an act of unilateral bullying and coercion," China's Finance Ministry said in a statement. The tit-for-tat increases stand to make goods trade between the world's two largest economies impossible, analysts say, with import duties above around 35% wiping out Chinese exporters' profit margins and making American offerings in China similarly overly expensive.
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| Re: China Raises Duties On US Goods To 125%, Calls Trump Tariff Hikes A 'joke' by fineboynl(op): 12:09pm On Apr 11, 2025 |
Beijing indicated on Friday that this would be the last time it matched the U.S., in the event that Trump takes his tariffs any higher. "Even if the U.S. continues to impose even higher tariffs, it would no longer have any economic significance and would go down as a joke in the history of world economics," the Finance Ministry's statement added. "If the U.S. continues to play a numbers game with tariffs, China will not respond," it added. However it left the door open for Beijing to turn to other types of retaliation, reiterating that China would fight the U.S. to the end. On Thursday, Beijing said it would immediately restrict imports of Hollywood films in response to Trump's tariff increases. Earlier this week, China focused its sights on U.S. services exports, issuing a travel advisory for citizens visiting the U.S. and an alert for students considering studying in the U.S. state of Ohio. UBS analysts said in a note that China's declaration that it would not retaliate in kind against any further tariff increases was "an acknowledgement that trade between the two countries has essentially been completely severed". SEEKING TO BUILD ALLIANCES Beijing is seeking to rally trading partners to its cause. In his first public comments on the tariffs, President Xi Jinping told Spanish Prime Minister Pedro Sanchez during a meeting in Beijing that China and the European Union should "fulfill their international responsibilities... and jointly oppose unilateral acts of bullying", China's state news agency Xinhua reported. Xi begins a three-nation tour of Southeast Asia next week, aiming to consolidate ties with some of China's closest neighbours as trade tension escalates with the United States. Eric Orlander, co-founder of the China-Global South Project, said improved market access in areas like agriculture would likely be on the table when Xi meets his Vietnamese, Malaysian and Cambodian counterparts rather than "big free trade deals". "China's best offer to Vietnam is stability. Don't underestimate how important that is at a time like this," Orlander added. Chinese Commerce Minister Wang Wentao has sought to get ahead of U.S. negotiators, holding video calls this week with his counterparts from the EU and Malaysia, which is chairing ASEAN this year, as well as Saudi Arabia and South Africa, by way of reaching out to Gulf countries and the Group of 20 and BRICS nations. Beijing and Brussels agreed on Thursday to restart talks on trade relief and to immediately carry out negotiations on electric vehicle price commitments, according to a readout of his meeting with European Commissioner for Trade and Economic Security Maros Sefcovic, meaning a truce to a longstanding spat could be forthcoming. A rapprochement with Europe would take China's trade war with the West back to a single front -- the U.S. "China remains open to negotiations with the U.S., but threatening and pressuring are not the right way to engage with China," the country's Commerce Ministry said in a separate statement. Reporting by Joe Cash, Yukun Zhang, Bu Shi, Qiaoyi Li, Xiuhao Chen and Liz Lee Editing by Sharon Singleton and Frances Kerry https://www.reuters.com/world/china/china-increase-tariffs-us-goods-125-up-84-finance-ministry-says-2025-04-11/ |
| Re: China Raises Duties On US Goods To 125%, Calls Trump Tariff Hikes A 'joke' by Chonchin: 12:17pm On Apr 11, 2025 |
China is in the wrong here if the tariffs from both countries are the same while China’s at the same time is the one selling more to the US. If the trades are equal and balance , then equal tariffs are justified but the trades are not equal in this situation . I hope the US increases the tariffs more For business fools that would disagree. maybe you would understand from business perspective when you have your own business and you’re a partner in a real business deal |
| Re: China Raises Duties On US Goods To 125%, Calls Trump Tariff Hikes A 'joke' by jocelynor: 12:25pm On Apr 11, 2025 |
Chonchin:So its ok for usa to increase their's but not ok for China to do same. Business point of view that's where China is looking at, n incase u don't know, China don't need America to make things for them America need them. U think Americans can actually afford made in America product without breaking the bank?? |
| Re: China Raises Duties On US Goods To 125%, Calls Trump Tariff Hikes A 'joke' by Chonchin: 12:29pm On Apr 11, 2025 |
jocelynor:My point is from international business perspective or any business for that matter equals tariffs on a situation where you’re the one selling more and making more money from the business relationship, equal tariffs is not fair on the other party that sell less The best the US can do is renegotiate the terms of trade with China to make it balance on both sides |
| Re: China Raises Duties On US Goods To 125%, Calls Trump Tariff Hikes A 'joke' by ELsmile(m): 12:29pm On Apr 11, 2025 |
am just enjoying to elephants fight ![]() what do i know ![]() |
| Re: China Raises Duties On US Goods To 125%, Calls Trump Tariff Hikes A 'joke' by jocelynor: 1:04pm On Apr 11, 2025 |
Chonchin:The best trump can do is revert back what he is doing cause usa isn't the only country China do business with |
| Re: China Raises Duties On US Goods To 125%, Calls Trump Tariff Hikes A 'joke' by Chonchin: 1:28pm On Apr 11, 2025*. Modified: 2:34pm On Apr 11, 2025 |
jocelynor:Why should it be the US business if other countries are okay with being taken advantage of by China? Many countries have had their nationals assets taken over by China. Every country and their citizens can’t be fools to China at the same time. One must have the guts to stand up to China which Trump is doing |
| Re: China Raises Duties On US Goods To 125%, Calls Trump Tariff Hikes A 'joke' by Fiscus105(m): 2:20pm On Apr 11, 2025 |
Let the war continue. |
| Re: China Raises Duties On US Goods To 125%, Calls Trump Tariff Hikes A 'joke' by Ironfaceman(m): 2:54pm On Apr 11, 2025 |
Who will cry the most. Though Nigerians will not be affected because 98% of Nigerian import are from China 🇨🇳. |
| Re: China Raises Duties On US Goods To 125%, Calls Trump Tariff Hikes A 'joke' by fineboynl(op): 6:37am On Apr 12, 2025 |
America doesn't have what Chinese needs that much. It was the reason the trade wasn't balance in the first place. But if it's in the part if the Chinese government to block out the US imports than trump might be right. Most countries trades with China is not balance either not just the US. The reason is that china produces more than they need and even cheaper than to import. Nigeria trade with Chinese is not balance and the reason why the naira and yan exchange deal never worked. |
| Re: China Raises Duties On US Goods To 125%, Calls Trump Tariff Hikes A 'joke' by orisa37: 8:23am On Apr 12, 2025 |
CHINA IS NOT SERIOUS. CHINA CLAIMS RIGHT TO DISTRIBUTE ITS PRODUCTS AND SELL THEM TO WHEREVER THEY LIKE AND CHOOSE. CHINA DOES CARE ABOUT OTHER COUNTRIES RIGHTS TO BEWARE AND TO REFUSE TO ACCEPT THEIR SHODDY MERCHANDISE. |
| Re: China Raises Duties On US Goods To 125%, Calls Trump Tariff Hikes A 'joke' by Basicend: 8:29am On Apr 12, 2025*. Modified: 10:55pm On Apr 12, 2025 |
Chonchin:Trump is still waiting for Xi to call him. . Lol. |
| Re: China Raises Duties On US Goods To 125%, Calls Trump Tariff Hikes A 'joke' by orisa37: 8:29am On Apr 12, 2025 |
AMERICA SHOULD RAISE CHINA TARIFFS TO 225% |
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