China and US trade impasse keeps on the uptick.

International Relations

China announced on Monday that it will increase its customs duties as of June 1 on $ 60 billion of annual imports of US products, in retaliation for the actions taken by Washington .

Trump advises China not to retaliate against the United States
Customs duties will increase on a set of US products already taxed, up to a maximum rate of 25%, the Office of the Chinese Government’s Tariff Commission announced on its website.

US President Donald Trump approved Friday to increase, as a punitive measure, from 10% to 25% the tariffs that are applied on Chinese products valued at 200 billion dollars.
Trump also ordered to institute a procedure to tax about 300 billion dollars of the remaining imports, thus affecting all products from China that are sold in the United States.
Beijing had promised on several occasions over the past few days that it would take the “necessary retaliatory measures”.
“China will never give in to any external pressure, we have the determination and the ability to defend our legitimate rights and interests,” said Geng Shuang, a spokesman for the Beijing Foreign Ministry on Monday.
“We have said repeatedly: the increase in customs duties will not solve any problem,” he stressed at a press conference, in which he advocated “an agreement for mutual benefit.”
Before the measures announced Monday in Beijing, almost all of the American products were already overcrowded in China.
This affected an amount of 110 billion dollars over an annual total of 120 billion imports from the United States.

 

No Comments

Leave a Reply

Your email address will not be published.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

"JB"
TRUMP pushing Rubio into the fray to disrupt Chinese influence on Canal.

https://www.bloomberg.com/news/articles/2025-02-04/panama-said-to-mull-canceling-port-deal-with-hong-kong-firm?embedded-checkout=true “JB”-  I’m seriously realizing I have BEEN ALL OVER shit related to PANAMA waaaayyyyyyyyy before the other mass media outlets. Being here makes a difference. I’m stepping up in 2026 to try to keep EX-PATS in tune with what is happening.   My issue is the EX-PATS already here ( …

Economy
PANAMA looking to tighten up Ex-Pat benefits from the EU side.

https://www.laestrella.com.pa/economia/panama-sigue-en-lista-de-la-ue-la-territorialidad-es-el-punto-de-discusion-clave-CC20000354 Panama will remain on the European Union’s list of non-cooperative jurisdictions for tax purposes. One of the key points of discussion is territoriality, a pillar of the Panamanian economic model that only taxes individuals on income generated within the country. On Monday, February 16, the EFE news agency , citing “diplomatic …

"JB"
RIP- Robert Duvall AKA Tom Hagen. All the best my “Kraut Mick Friend”. Godspeed.

Robert Duvall, acclaimed actor of iconic films such as Apocalypse Now and The Godfather , died on the night of Sunday, February 15, at the age of 95 at his home in Middleburg, Virginia, surrounded by his family, his widow, Luciana Duvall, reported on Monday, February 16. https://www.laestrella.com.pa/vida-y-cultura/muere-robert-duvall-el-aclamado-actor-de-apocalyse-now-y-el-padrino-a-los-95-anos-HI19997202 “ Yesterday we said goodbye to my …