- China rules out Trump's growing Brinkmanship as “joke.”
- The last levies of 125% of Beijing will take effect as of Saturday.
- More measures will be ignored by us: Chinese Ministry of Finance.
China said Friday that it would increase tariffs on US goods to 125%, but would ignore more levies of President Donald Trump because it no longer makes economic sense that importers buy to the United States.
After a week of market chaos when the two largest economies in the world took turns to present commercial barriers, Beijing ruled out Trump's growing Brinkmanship as a “joke” and a “game of numbers.”
China accused Trump to unleash the turbulence in the market with radical tariffs that have affected the world and said that the United States “should have all the responsibility” of chaos.
Trump has deployed radical tariffs, which include painfully higher taxes for dozens of important economies, such as a stick to force manufacturers to be based on the United States and for countries to decrease barriers for US goods.
But after market agitation this week, it flicked first in its impulse to remodel the post -war global trade system and froze many rates for 90 days, although it raised them to China to an amazing total of 145%.
Beijing's last retaliation round carries its levies to 125%, starting on Saturday.
But the Chinese finance ministry said that additional action will be ignored by the United States because “at the current tariff level, there is no possibility of market acceptance for US goods exported to China.”
“The imposition of the United States Round to the Round of Abnormally High Tariffs in China has become a game of practical numbers in the economy,” said Beijing's Ministry of Commerce.
“If the United States continues to play the set of rates numbers, China will ignore it,” said a spokesman.
Beijing also said he would file a demand before the World Trade Organization on the last round of encumbrances.
'Beautiful thing'
Trump has recognized “a transition cost and transition problems” that arise from its rate strategy, but has ruled out the agitation of the global market.
“In the end it will be something beautiful,” he said.
He described the European Union as “very intelligent” to refrain from retaliation levies.
“(The EU) were ready to announce retaliation. And then they learned what we did with respect to China,” Trump said.
But the head of the 27 -nations block, Ursula von der Leye, told The Financial Times that he remained armed with a “wide range of countermeasures” if the negotiations with Trump hit the skates.
“An example is that it could impose the advertising income of digital services” that applied throughout the block, he said.
The French president, Emmanuel Macron, also urged the EU to continue preparing the action to counteract tariffs, which only stop but do not discard.
“With the European Commission, we must show ourselves as strong: Europe must continue working on all the necessary countermeasures,” he said in X.
In conversations with the Prime Minister of Spain, Pedro Sánchez, on Friday, the state media cited XI saying that China and the EU should simply be associated with the issue.
“China and Europe should fulfill their international responsibilities … and jointly resist unilateral intimidation practices,” XI said.
This, he emphasized not only “safeguarding his own legitimate rights and interests, but also … safeguarding international equity and justice.”
'There are no winners'
After the new falls on Wall Street, the Asian markets returned pressure on Friday.
Tokyo sank more than four percent, one day after increasing more than nine percent, while Sydney, Seoul, Singapore and others also sank.
European markets also retired in the last save from China.
The oil and the dollar slide down the fear of a global deceleration, while gold reached a new record above $ 3,200, since investors frightened by Trump's erratic policies normally threw the treasure bonds of the United States.
“The high sugar of the Trump rate pause is fading rapidly,” said Stephen Innes of Spi Asset Management.
“In a nutshell: the two largest economies in the world are in a complete commercial war, and there are no winners.”
'Golden age'
Critics of Trump policies say they are causing chaos for companies that depend on complex supply chains, alienate nearby allies and make goods more expensive for US consumers.
But Howard Lutnick, his secretary of Commerce, published on social networks on Thursday that “the Golden Age is coming. We are committed to protecting our interests, participating in global negotiations and exploiting our economy.”
Meanwhile, Trump has warned that tariffs could return after 90 days.
“If we can't make the treatment we want to do … then we would return to where we were,” he said.
Canadian Prime Minister Mark Carney, described Trump's reversal as a “welcome respite” and said Ottawa would begin negotiations with Washington by a new economic agreement after the elections of April 28.
Vietnam said he had agreed with the United States to start commercial conversations, while Pakistan is sending a delegation to Washington.
While China fights to find allies against Trump's commercial war, XI will travel next week to Vietnam, Malaysia and Cambodia, where the tariff drama is expected to have a prominent place on the agenda.
