The Chinese Ministry of Commerce imposed restrictions on more than 12 American companies in the defense sector today, Wednesday, after President Donald Trump implemented his threat to impose additional customs duties 50% on Chinese imports.
The data of the Ministry of Commerce showed that Beijing added 12 American companies to the supervision list that prohibits the export of materials with double use, and 6 other companies to the list of “non -trustworthy entities” that allow Beijing to take punitive measures against foreign entities.
China also announced the raising of customs duties on American goods 50%, in addition to the 34% increase announced previously and scheduled to be implemented tomorrow, Thursday, to reach the total. AFor additional customs duties on American imports to 84%.
Basically targets the latest round of commercial restrictions, which is also entered into force tomorrow, the American companies supplied to the Pentagon and the federal government agencies, in addition to about 60 American companies that Beijing has already punished due to the customs duties imposed by Trump on China, the first of which was in force last February.
Regarding the list of unexplained entities, Beijing said that it added the six American companies to the list due to weapons sales or military cooperation with Taiwan, and that it will prevent them from importing and export activities related to China, in addition to investing in the country.
According to Reuters, restriction companies do not have little business in China, but new restrictions may disrupt their supply chains.
complaint
In a related context, Beijing today, Wednesday, filed a new complaint with the World Trade Organization regarding Trump’s fees, after I informed it earlier that the fees threaten more destabilization of global trade.
China said in a statement to the organization: “The situation escalated in a threat … and as one of the affected members, China expresses its great concern and its strong opposition to this reckless step,” China said in a statement to the organization.
https://www.youtube.com/watch?v=82jv7MOMDE0
The customs duties imposed by Trump entered into dozens of countries today, Wednesday, including huge fees of 104% on Chinese commodities, and this ascended a global trade war.
Trump says customs duties are necessary to end the US trade deficit with many of its commercial partners.
China has responded by raising its customs duties on US imports from 34 to 84%, while the European Union intends to launch the first counter measures, most of which are in customs duties 25% next week.
“While China is opposing commercial wars, it will firmly defend its legitimate interests,” Beijing said in a statement to members of the World Trade Organization during a meeting on commodity trade.
China accused the United States today, Wednesday, of violating the rules of the organization, and said it is undermining the multilateral trade system.
The Secretariat of the World Trade Organization urged to study the impact of customs duties on global trade and provide its results to members.
An organization official told Reuters that the new complaint submitted by China was in addition to a previous request made by Beijing to hold consultations with the United States on April 4.
Bilateral consultations are the first stage of formal settlement of conflicts, and if a solution cannot be reached within 60 days, China can demand that the Geneva -based conflict settlement board take over the task of separating the dispute.
