- China says that if the American moves forward then ‘will fight till the end’.
- Trump threatened China with an additional 50% duty.
- Tariff makes for the fight for Wills, not economics, analysts.
China on Tuesday disintegrated as “blackmail” as a threat to add 50% tariffs on his goods by US President Donald Trump, as he demanded that Beijing withdrew his plans for counter-tariffs.
If neither side blinks and Trump cling to their plans, the total new levy may climb up to 104% on the Chinese goods imported in the United States this year, which further extends a trade war that has already increased the largest market loss since the epidemic.
China’s Ministry of Commerce said in a statement, “The threat of the US side to increase the tariff against China is a mistake at the top of a mistake, once again highlighting the blackmailing nature of the American side.”
“If America emphasizes its way, China will fight till the end.”
Trump said he would impose an additional 50% duty on US imports from China on Wednesday, if Beijing did not withdraw 34% tariffs on US products last week.
Those Chinese tariffs, in turn, came in response to 34% “mutual” duties declared by Trump.
The average American tariff on Chinese goods is already determined to climb up to 76% after Trump’s levy last week, which hit China with a tariff of 34%, besides 20% in addition to 20%.
The move has inspired economists to question whether the White House stands to get a lot of benefits from the moving rates.
Ju Tianchen, senior economist at The Economist Intelligence Unit, said, “Since China is already facing more than 60%tariff rate, it does not matter whether it increases by 50%or 500%.”
He said, “What China can do, can prevent American farming purchases, corresponds to American tariffs and expand its export control in the periodic table of chemical elements.”
