China on Sunday called upon the US government to "completely cancel" reciprocal tariffs imposed by the Donald Trump administration which has taken the total levies to 145% on the Asian nation.
"We urge the US to... take a big step to correct its mistakes, completely cancel the wrong practice of 'reciprocal tariffs' and return to the right path of mutual respect", a commerce ministry spokesperson said in a statement.
Reacting to the tariff exemption announced by Trump administration on consumer electronics, China said that it was a "small step" in correcting his "wrong practice" of imposing 145% tariffs.
"China is now evaluating the impact," the spokesperson said.
The steep 145% US tariff and China’s retaliatory 125% levy have caused serious concern among businesses engaged in US-China trade.
The move has made companies not only anxious about securing future orders but has also left them questioning the long-term sustainability of their operations if the tensions persist. Experts warn that the longstanding trade relationship that has formed the backbone of economic ties between the two global powers may be at risk of falling apart.
"We urge the US to... take a big step to correct its mistakes, completely cancel the wrong practice of 'reciprocal tariffs' and return to the right path of mutual respect", a commerce ministry spokesperson said in a statement.
Reacting to the tariff exemption announced by Trump administration on consumer electronics, China said that it was a "small step" in correcting his "wrong practice" of imposing 145% tariffs.
"China is now evaluating the impact," the spokesperson said.
The steep 145% US tariff and China’s retaliatory 125% levy have caused serious concern among businesses engaged in US-China trade.
The move has made companies not only anxious about securing future orders but has also left them questioning the long-term sustainability of their operations if the tensions persist. Experts warn that the longstanding trade relationship that has formed the backbone of economic ties between the two global powers may be at risk of falling apart.
You may also like
"Central forces have to stay here with full power, police has become TMC's cadre": Suvendu Adhikari on Murshidabad violence
TV star's horror battle to stay alive in Antarctic as penguins set to 'starve to death'
"Shubho Nabo Barsho": PM Modi extends greetings on Poila Boishakh
Tamil Nadu: CM Stalin likely to move resolution today calling for more power to states
FPJ Analysis: Glitches In UPI Unacceptable, Raise Concerns Over Reliability
