digital products downloads

US Set To Hit China With 104% Tariffs As Beijing Vows To ‘Fight To The End’ In Trade War

US Set To Hit China With 104% Tariffs As Beijing Vows To ‘Fight To The End’ In Trade War

The White House has confirmed that United States tariffs on Chinese imports will surge to 104 percent on Wednesday, as US President Donald Trump’s administration presses ahead with its aggressive trade stance against Beijing, despite warnings of economic fallout. The announcement comes after Beijing vowed to “fight to the end” against what it described as unfair levies.

The White House said the new duties will take effect as planned, following Trump’s earlier pledge to impose a further 50 percent tariff on Chinese goods if China failed to withdraw its retaliatory measures.

White House press secretary and assistant to US President Donald Trump, Karoline Leavitt, remarked, “He believes that China wants to make a deal with the USA and he believes that China will have to make a deal… It was a mistake for China to retaliate. When America is punched, [President Trump] punches back harder. That’s why there will be 104 per cent tariffs going into effect on China tonight… If China reaches out to make a deal, he will be incredibly gracious.”

China, which has repeatedly criticised Washington’s tariff moves, called for solidarity among developing nations. “China-India economic and trade relationship is based on complementarity and mutual benefit. Facing the U.S. abuse of tariffs… the two largest developing countries should stand together to overcome the difficulties,” said Yu Jing, spokesperson for the Chinese Embassy in India, in a post on X.

US President Trump stated on Tuesday that he was waiting to hear from China before duties exceeding 100 percent take effect. However, senior administration officials indicated that Washington is not prioritising talks with Beijing at this stage, as per news agency Reuters.

The heightened trade tensions triggered global market turmoil, although US stocks recovered slightly after heavy losses over the past week that had wiped out trillions of dollars in market value.

The Trump administration has already implemented a 10 percent tariff on nearly all imports and is moving forward with targeted tariffs of up to 50 percent on several trading partners. From Wednesday, the combined impact of these levies will bring the total additional tariffs on Chinese goods to 104 percent.

China Vows To ‘Fight To The End’ Amid Trade War With US

In response to the escalation, China has reiterated its stance, accusing the US of “blackmail” and vowing to “fight to the end” as it prepares its own reciprocal measures. Despite the tough rhetoric, Trump hinted at the possibility of resolving the impasse, stating on social media, “China also wants to make a deal, badly, but they don’t know how to get it started. We are waiting for their call. It will happen!”

Nevertheless, White House economic adviser Kevin Hassett told Fox News that the administration has been instructed to prioritise trade talks with allies like Japan and South Korea. “Right now, we’ve received the instruction to prioritise our allies and our trading partners like Japan and Korea and others,” he said.

Trump’s lead trade negotiator, Jamieson Greer, informed US lawmakers that while his office is working to accelerate negotiations, there is currently no set timeline. “The president has been clear, again, that he’s not doing exemptions or exceptions in the near term,” Greer told US Congress, as quoted by Reuters.

Meanwhile, dozens of countries have reportedly reached out to the US for trade discussions, with Vietnam and Indonesia offering to reduce tariffs on American goods.

As the trade conflict deepens, Chinese manufacturers are bracing for prolonged challenges. Companies producing goods ranging from tableware to flooring are grappling with shrinking profit margins and exploring the option of relocating production overseas. Investment bank Citi has lowered its 2025 GDP growth forecast for China from 4.7 percent to 4.2 percent, citing rising external risks, Reuters reported. Some companies have also warned of imminent price hikes as they adapt to the new tariff landscape.

Doonited Affiliated: Syndicate News Hunt

This report has been published as part of an auto-generated syndicated wire feed. Except for the headline, the content has not been modified or edited by Doonited

Source link

Uniq Art Store India

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Uttarakhand News Doonited
Social media & sharing icons powered by UltimatelySocial
Instagram
WhatsApp