Online Forex broker
China has already imposed additional duties of 25% on up to 128 American products including certain nuts and fruits, wine and frozen pork, thus responding to American tariffs on imports of steel and aluminum, as the Asian country’s financial ministry uncovered on Sunday.
China's Ministry of Commerce told that it had its obligations to the World Trade Organization suspended with the aim of diminishing duties on 120 American goods. The duties on those products are going to be raised by an additional 15%.
Besides this, eight other products, such as pork are going to be subject to extra duties of 25%, and with the measures coming into effect on April 2.
China has had to impose the extra duties in the face of strengthening trade tensions between China and the United States, driving worries of a devastating trade feud between the world's two leading economies.
Donald Trump is geared up towards imposing duties of more than $50 billion on China’s goods intended to punish China over American accusations that this Asian country constantly misappropriated US intellectual property, although such allegations are denied by the Chinese government.
China has frequently pledged to proceed with opening its economy, although a great number of foreign companies keep complaining of unfair treatment. Besides this, on Thursday, China warned America not to open a Pandora's Box sparking a storm of protectionist practices throughout the world.
In a statement released on Monday, MOFCOM told that America had heavily violated the very principles of non-discrimination engraved in World Trade Organization rules. What’s more, the United States had severely affected China's interests.
MOFCOM told that China's suspension of several obligations to America appears to be its legitimate right as a member of the WTO. They also stressed that differences between the two leading countries need to be resolved via negotiation and dialogue.
In September, China's new home prices managed to surge at a firm tempo, backed by profits in smaller cities and demonstrating that the market was still resilient notwithstanding pressures from softer investment, a decelerating economy as well as…
In September, American home sales went down by the most for more than two years due to the fact that the housing market kept struggling notwithstanding strength across the broader American economy…
In September, Britain's authorities faced a smaller budget deficit than anticipated, although the improvement won’t probably help a lot to have minister Philip Hammond financed as he’s working on his annual budget…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
Your request is accepted.
A manager will call you shortly.
Internal error. Please try again later
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
