Chinese and North -American flags flown near the Bund, before the North -American Commercial Delegation met their Chinese counterparts for talks in Shanghai, China on July 30, 2019.
Aly Song | Atmosphere
The Ministry of Finance of China said on Friday that it will impose a 34% rate on all imported goods from the United States from April 10, after the tasks imposed by the administration of the President of the United States, Donald Trump, earlier this week, according to the state news.
« China urges the United States to immediately cancel its unilateral tariff measures and to resolve commercial differences through the same, respectful and mutually beneficial consultation, » Xinhua told the Ministry of Finance. report.
The ministry also criticized Washington’s decision to impose 34% of the additional reciprocal rates in China, which brought the U.S. total rates against the country at 54%, as « incoherent with international trade rules » and « seriously » by damaging Chinese interests, as well as jeopardizing the « global economic development and the stability of production and supply chain ».
CNBC has contacted the White House to comment.
Beijing, who also entertained a faint trade relationship with Washington under Trump’s first term, had warned It would take a long time to « firmly against » safeguarding its own interests after the White House spread its last rates on Wednesday.
Mutual rates have an impact on a value -rated commercial relationship of $ 582.4 billion in merchandise by 2024, According to the United States Commercial Representative Office.
Future United States States fell In the minimum session after China announced retaliation taxes. Contracts related to the Industrial average of Dow Jones They dropped 900 points, or 2.2%. S&P 500 and NASDAQ-100 Future fell by 2.3% and 2.6%. respectively.
European actions also fell abruptly in the news. The pan-regional Stoxx 600 The index was 4.5% less than 11:27 hours of London time, extending the previous losses, and the European bank sector fell at 9.5%.
– Katrina Bishop of CNBC and Fred Imbert contributed to this report.
This outreach news is being updated.
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