US President Donald Trump attended the Cabinet Meeting at the White House in Washington on April 10 (photo: Reuters).
“Let’s see what will happen to China. We really want to be able to reach an agreement. They really took advantage of our country for a long time,” President Donald Trump said on April 10.
“We are rearranging and I’m sure we can get along well. I respect President Xi Jinping. He is really my friend for a long time and I think we will achieve something very good for both countries,” Mr. Trump added.
President Trump also mentioned China’s move when cutting down the number of American films shown in the country. The President said that this was a form of weak retaliation for his tariffs.
“I think I have heard that things are worse than that,” Mr. Trump said.
On April 2, President Trump announced a new tariff policy with more than 180 partners around the world, in order to resolve the trade deficit.
While the majority of goods from countries and territories have been under 10% of the basic tax on April 5, goods from dozens of other countries have higher reciprocal taxes, from 11% to 50% starting from April 9.
However, Mr. Trump suddenly changed his mind, postponed the reciprocal tax within 90 days, and brought back to the uniform level of 10%, except China.
Trump’s latest executive decree raised taxes with Beijing from 84% to 125%. However, this tax is added with a 20% tax related to Fentanyl (one of the strong analgesic drugs in the Opioid group, which is highly addictive) that Mr. Trump has imposed earlier to China. Therefore, the total number is 145%.
A White House official also confirmed that the US tax rate on Chinese imported goods has now reached 145%.
Tensions between the two largest economiesworldConstantly escalating in recent years, when the US and China in turn taxed each other. China is the highest reciprocal tax burden in the United States.
In addition to increasing taxes, the Chinese Ministry of Commerce has filed a complaint to the World Trade Organization (WTO) to protest the US move and put 6 US companies on the list of “unreliable entities”. 12 other American businesses have been subject to export control measures, banned Chinese companies from providing them with goods that can be used for their purposes.militaryand civilian
Chinese Foreign Ministry spokesman Lam Kiem said on April 10, confirming that the country did not want to confront, but would not worry if the US continued to warn more tax on Beijing goods.
According to Chinese officials, the US tariff policy “does not receive the support of the people” and “will not succeed”. Mr. Lam affirmed that China would not cross -standing with his arms to see the rights and legitimate interests of the affected people.
Meanwhile, the Chinese Ministry of Commerce proved softer, affirming that “the door of dialogue is still open”, and expressed hope that the United States will cooperate with China “in the spirit of mutual respect, peaceful living and mutually beneficial” to resolve disagreements through negotiations.
In the midst of Washington, China also increased approaching other partners to reduce dependence on the US market.
Chinese Minister of Commerce Vuong Van Dao met Malaysia’s counterpart and affirmed that Beijing wanted to work closer to ASEAN countries. He also discussed with the EU Trade Commissioner to resume the negotiations on electric car industry and increase bilateral investment.
