China Urges US to ‘Completely Cancel’ Trump’s Reciprocal Tariffs
In a recent development, China’s Commerce Ministry has urged the United States to “completely cancel” its reciprocal tariffs on Chinese goods, including smartphones, laptops, and other electronics. The Ministry’s call comes after US President Donald Trump announced an exemption for these products, which has been seen as a move to ease tensions between the two nations.
The reciprocal tariffs, which were imposed by the US in 2018, have been a contentious issue between the two countries. The US has imposed a 145% tariff on China, while China has retaliated with its own set of tariffs on US goods.
In a statement, a Commerce Ministry spokesperson said that the reciprocal tariffs were a “wrong practice” and urged the US to take a “big step” to correct its mistakes. The spokesperson also emphasized that China was willing to work with the US to resolve the trade dispute through dialogue and cooperation.
The exemption announced by Trump for smartphones, laptops, and other electronics is seen as a move to ease tensions ahead of a crucial meeting between the two nations. The meeting, which is expected to take place later this year, is aimed at resolving the ongoing trade dispute between the two countries.
The reciprocal tariffs have had a significant impact on the global economy, with many countries feeling the pinch of the trade tensions. The tariffs have led to a rise in prices of goods, including electronics, and have also affected the profitability of many companies.
The Chinese government has been vocal in its criticism of the reciprocal tariffs, saying that they are unfair and unjust. The government has also threatened to take retaliatory measures if the tariffs are not lifted.
In a statement, Chinese Foreign Ministry spokesperson Geng Shuang said that the reciprocal tariffs were a “violation of international trade rules” and were having a “serious impact” on China’s economy.
The reciprocal tariffs have also been criticized by many economists, who say that they are a form of protectionism and are likely to do more harm than good. The tariffs have led to a decline in trade between the two countries, which has had a negative impact on many industries.
The exemption announced by Trump for smartphones, laptops, and other electronics is seen as a move to ease tensions ahead of the meeting between the two nations. The exemption is expected to benefit many companies, including Apple and Samsung, which rely heavily on Chinese manufacturing.
However, the exemption is not expected to resolve the trade dispute between the two countries. The dispute is complex and involves many issues, including intellectual property, technology transfer, and market access.
In a statement, a US Chamber of Commerce spokesperson said that the exemption was a “step in the right direction” but that more needed to be done to resolve the trade dispute.
The trade dispute between the US and China has been ongoing for several years, with both countries imposing tariffs on each other’s goods. The dispute has had a significant impact on the global economy, with many countries feeling the pinch of the trade tensions.
In recent months, there have been some signs of progress in the talks between the two nations. In July, the US and China agreed to a trade deal, which included a reduction in tariffs on each other’s goods. However, the deal was short-lived, and the trade tensions between the two countries have continued to escalate.
In conclusion, China’s Commerce Ministry has urged the US to “completely cancel” its reciprocal tariffs on Chinese goods, including smartphones, laptops, and other electronics. The Ministry’s call comes after US President Donald Trump announced an exemption for these products, which has been seen as a move to ease tensions between the two nations. The reciprocal tariffs have had a significant impact on the global economy, and it remains to be seen whether the exemption will be enough to resolve the trade dispute between the two countries.
