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In this illustration, on January 27, 2022, China and the United States were printed on paper.
Date of Ruvi | Reuters
Beijing – China is ready to do more to decide the White House’s concern about the illegal trade in Fentonil, but this will be a “other thing” if a permanent drug discussion promotes more tariffs in the US in the second largest economy in the world, the Chinese Foreign Ministry official said.
Washington was to “say great thanks” to China that he did to restrict the Fentonil trade in the US, the official said through an official translation into English, saying that the White House did not appreciate the efforts and instead raised the duties on Chinese goods twice this year.
Since his post in January, US President Donald Trump has Increase tariffs on Chinese goods by 20% On the basis of the alleged role of the country in the US crisis Fentonil. Predicting drugs whose precursors are mainly produced in China and Mexico, led to tens of thousands of deaths from overdose annually
The White House did not immediately respond to the CNBC request about the comment.
Earlier this month, the Chinese government published White paper To publish your efforts to reduce the production and export of Fentonil’s predecessors over the past few years. The official did not answer directly to whether China would stop its recent efforts to restrict such trade.
Under Biden’s administration, the US and China said Fentonil was one of the few areas in which both countries could cooperate. Both sides held devoted negotiations in Beijing Last year on this topic.
Trump stated earlier this year that could also use tariffs as a way of pressure on China to force Beijing Batins to sell Tiktok that is facing In early April term To remain available in the US
Trump emphasized tariffs as a way to reduce US trade deficit with China during his first presidency. Before the Covid-19 pandemic starts, both sides reached the “first” phase agreement that requires Beijing to increase purchases of US goods. US data shows that Trade deficit with China Strong to $ 295.4 billion in 2024, from $ 346.83 billion in 2016, just before Trump’s first mandate.
But the differences in the trade continue after the start of the second mandate of the White House leader. The average effective tariff tariff for Chinese goods is now thinking 33%, which is about 13% before Trump has started its last term, according to the Chinese economist Nomura Ting Lu.
Beijing responded to the latest tariffs in the United States with focused duties in energy and agriculture, while increasing restrictions on exports of critical minerals needed by the United States. The Chinese Ministry of Commerce also added several US companies, mainly in aerospace or protection, to lists that limit their ability to run a business with China.
A spokesman for the Ministry of Foreign Affairs said on Wednesday that China’s counteraction was “legal actions” to protect their own interests.
Allianz estimates that an additional 20% of US tariffs for Chinese GDP growth by 0.6 percentage points this year and next. But the firm still expects that this year the Chinese economy will grow by 4.6% and 4.2% in 2026, based on the assumption that the stimulus could mitigate the effect of tariffs.
“I would like to say that revenge is not so strong, perhaps leaving a place for negotiations,” said Françoise Juan, Senior Economist of the Asian Pacific and Global Trade in Allianz Trade, in an interview with CNBC last week.
