Beijing cries uncle as they know Trump has won.
Please Follow us on Gab, Minds, Telegram, Rumble, GETTR, Truth Social, X , Youtube
The Chinese Foreign Ministry, under severe economic pressure from the Trump administration's tariff policy, raised tariffs on American goods to 125% to match the recent White House announcement.
Trump's unusually high tariffs on China has become a numbers game and has no practical economic significance, declared the Chinese Foreign Ministry.
In view of the fact that at the current tariff level, there is no possibility of market acceptance for U.S. goods exported to China. If the U.S. continues to impose tariffs on Chinese goods exported to the United States, China will ignore them, wrote the Chinese Foreign Ministry in a statement.
“Even if the U.S. continues to impose higher tariffs, it will no longer make economic sense and will become a joke in the history of world economy,” the ministry said in a statement
China has filed another complaint with the World Trade Organization over recent US tariff increases.
Vietnam is prepared to crack down on Chinese goods being shipped to the United States via Vietnam and will tighten controls on sensitive exports to China to avoid US tariffs, reported Reuters.
“This is the end of the escalation in terms of bilateral tariff rates. Both China and the US have sent clear messages, there is no point of raising tariffs further,” said Zhiwei Zhang, president and chief economist at Pinpoint Asset Management, reported CNBC.
However, the damage is done. The United States has begun to decouple from China in stunningly short period of time. The world has changed. Manufacturing will move away from China, and goods are essentially shut out of the American market.
Beijing cries uncle as they know Trump has won.
