Trump proves additional tariffs on China: “The United States can no longer produce enough antibiotics…” – Economic Times Video
U.S. President Donald Trump announced a 34% import tax on Wednesday as part of a “Liberation Day” package aimed at reshaping U.S. trade policy. “China firmly opposes the move and takes firm countermeasures to safeguard its legitimate rights and interests,” the Chinese Ministry of Commerce said in a statement a few hours on Thursday morning. It added: “The so-called ‘mutual tariffs’ violate international trade rules, undermine the legitimate rights and interests of the parties involved, and are typical of unilateral bullying.” China charged the United States 67% tariffs, noting that the figure includes the impact of currency manipulation and trade barriers. The new 34% tariff on Chinese imports reflects a 10% universal baseline and a 24% unique to the country. 10% will come into effect on April 5, while higher reciprocity tariffs will come into effect on April 9.
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