Beijing’s comments occur after the White House says that Chinese exports could face duties of up to 245 percent.
The Chinese Ministry of Foreign Affairs has said that it will not pay attention to the “set of rates numbers” of the president of the United States, Donald Trump, after the White House suggested that Chinese exports face tariffs of up to 245 percent.
The White House revealed the latest rates of rates on an information sheet earlier this week.
The informative sheet includes the rate recently of 125 percent of Trump and the previous 20 percent rate imposed in response to the alleged breach of Beijing to stop fentanyl exports to the United States, as well as possible tariffs between 7.5 percent of the DIEGG Law of 1974.
Beijing’s comments about Thorsday echoed the events last week by the Ministry of Finance, which described Trump’s growing tariffs as a “joke” because they no longer have “any economic significance.”
China’s tariffs on US goods are 125 percent, but Beijing also has tasks of other non -tariff punitive measures, including the limitation of the launch of Hollywood films.
Economists have said that Trump’s rates, if not facilitated, will stop the majority of trade between the United States and China due to the exorbitant increase in costs.
The World Trade Organization said Wednesday that the volume of global trade is expected to decrease by 0.2 percent in 2025 under current conditions, or “almost three lower percentage points” than a low rate reference scenario.
The indirect effect of Trump’s “reciprocal rates”, most of which have stopped until July, could lead to an “even more acute or 1.5 percent decrease in the global trade of goods and hurt less developed countries oriented to export,” said the WTO.
The UN Trade and Development Office (UNCTAD) also reviewed its prediction for global growth from 2.5 percent to 2.3 percent in 2025, indicating in its evaluation that growth below one threshold or 2.5 percent of the signals of a global recession.
