China announces 34% taxes on American goods. “It is a typical practice of unilateral intimidation”
The China Ministry of Finance announced on Friday, April 4, that it will impose 34% customs duties on all American goods, in response to the rates imposed on Wednesday by President Donald Trump.
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“This US practice is not in accordance with international commercial norms, seriously undermines China's legitimate rights and is a typical unilateral intimidation practice”, The tariff commission of the State Council of China said in a statement announcing its retrival rates.
At the time of Trump's ad, China promised to respond to defend “Rights and interests”.
The financial markets began to collapse on Friday after China announced its response to Trump's rates, The Guardian reports, writes News.ro.
The news of China's reprisals against the new customs tariffs imposed by the US has led to the decrease in actions in Europe. The Stoxx 600 index of the largest six hundred European companies dropped 4.4%on Friday. The German DAX index decreased by 5%.
Canada has imposed 25% rates on US car imports
Another state that came with an answer is Canada, who announced that it imposes 25% on US car imports.
Canadian Prime Minister Mark Cariy said he was already informing President Donald Trump about mutual rates, adding that “tOur arifs, unlike American tariffs, will not affect car parts. We take these measures with reluctance, but in a way that will cause a maximum impact in the United States and a minimum impact here in Canada ”
However, the US president was carelessly stated about the market reaction after the rates imposed. He told reporters that “The markets will explode. The actions will explode. The country will explode. ”
“I think it works very well. It was an operation, as when a patient is operated on and is a big thing. I said this will be exactly as it is … I have never seen something similar. The markets will explode. The actions will explode. The country will explode.
And the rest of the world wants to see if there is any way to make an understanding. They took advantage of us for many, many years. For many years I was on the wrong side of the fillet and I tell you something: I think it will be incredible ”, Trump told reporters gathered on the southern lawn of the White House, according to News.ro.
