'China played it wrong, they panicked': Donald Trump slams Beijing's 34 pct tariff move
Washington DC/IBNS: Responding to China's decision to impose an additional 34 percent tariff on all US goods, US President Donald Trump Friday said Beijing "played it wrong" and that "they cannot afford to do it."
“China played it wrong, they panicked - The one thing they cannot afford to do!" Trump wrote on Truth Social.
This comes after the Chinese government imposed an additional 34 percent tariff on all imported U.S. products starting April 10, days after Washington announced reciprocal tariffs.
Triggering almost a global trade war, US President Donald Trump on Wednesday announced tariffs of at least 10 percent on almost all goods from other countries, plus even higher rates for many nations, including friends, but deemed to be “worst offenders”.
Addressing an audience in the Rose Gardens of the White House, including rows of construction helmet-wearing workers, Donald Trump said: “The tariffs will not be fully reciprocal. I could have done that, I guess. But it would have been tough for a lot of countries."
His nearly 50-minute-long speech from the White House Rose Garden was attended by his cabinet and representatives of the US steel and auto industries besides people from the working class. He called April 2 a "Liberation Day" for Amercia.
Among the countries being targeted with reciprocal tariffs are China, Vietnam, Taiwan, Japan, India, South Korea, Thailand, Switzerland, Indonesia, Malaysia, Cambodia and the European Union.
Trump announced a 34 percent reciprocal tariff on China, 26 percent on India and 20 percent on the European Union.
"The United States imposes a 2.5% tariff on passenger vehicle imports (with internal combustion engines), while the European Union (10%) and India (70%) impose much higher duties on the same product.
"For networking switches and routers, the United States imposes a 0% tariff, but India (10-20%) levies higher rates. Brazil (18%) and Indonesia (30%) impose a higher tariff on ethanol than does the United States (2.5%). For rice in the husk, the U.S. imposes a tariff of 2.7%, while India (80%), Malaysia (40%), and Turkey (31%) impose higher rates," his factsheet posted on the White House site said.
Apples enter the United States duty-free, but not so in Turkey (60.3%) and India (50%), it said.
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