The tariff war between the US and China has escalated further. The US has now imposed another 100% tariff on China. With this, the total tariff on Chinese goods has gone up to 245%.
China had imposed a 125% tariff on US goods on April 11, in response to which Trump has imposed a new tariff.
Earlier, China had said that it would not respond to any additional tariff imposed by the US.
After the announcement of new tariffs by the US, China said that we are not afraid of a trade war with the US. China again said that the US should negotiate. Earlier, Donald Trump had said that China would have to initiate the talks.
China's Foreign Ministry spokesman Lin Jian said that if the US really wants to resolve the issue through dialogue and agreement, then it should stop applying unnecessary pressure, should not intimidate or blackmail and talk to China on the basis of equality, respect and mutual interest.
Lin Jian told reporters that you should ask America what will be the different tax rates under the 245% US tariff. This tariff war has been started by America, not us. We are just responding to America's actions. Our steps are completely logical and legal. We are trying to maintain the rights of our country and integrity in international trade.
China refuses to take delivery of new aircraft from Boeing
A day earlier, China ordered its airline companies not to take delivery of new aircraft from American aircraft manufacturer Boeing. According to reports, Beijing has also ordered to stop the purchase of aircraft parts and devices made in America.
China had issued this order in response to America's 145% tariff. Boeing Airplane is an American company that manufactures airplanes, rockets, satellites, telecommunications equipment and missiles.
Airlines of many countries use planes made by Boeing. Boeing is America's largest exporter company and it is also the world's third largest defense deal company.
China stops supply of precious metals, magnets
China has also banned the export of 7 precious metals (rare earth materials) amid this trade war. China has also stopped the shipment of magnets required to assemble cars, drones, robots and missiles at Chinese ports.
These materials are very important for automobile, semiconductor and aerospace business. This decision will affect companies manufacturing motor vehicles, aircraft, semiconductors and weapons around the world. These will become expensive.
China had issued an order on April 4 to ban the export of these 7 precious metals. According to the order, these precious metals and special magnets made from them can be sent out of China only with a special permit.
Prakash Kumar Pandey
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