China has called on the European Union to work together to resist the unilateral steps taken by the United States, amid escalating tensions over “mutual customs duties” increases.
This came during the meeting of Chinese President Xi Jinping today, Friday, with Spanish Prime Minister Pedro Sanchez, who is visiting Beijing, according to the Chinese news agency “Xinhua”.
Xi said that there will be no winner in the tariff war, and that “the opposition of the world will eventually lead to its isolation (the United States) itself.”
She pointed out that China and the European Union are advocates of economic globalization and free trade, stressing the need for together “unilateral economic bullying.”
In turn, Sanchez stated that the increase in customs duties imposed by US President Donald Trump will push the European Union to find new partners and new markets, and explained that the European Union and China are seeking to “review their relations.”
The state of economic uncertainty and the escalation of commercial tensions caused by customs duties increases an opportunity for rapprochement between Brussels and Beijing, according to observers.
Communications with Saudi Arabia and South Africa
Meanwhile, the Chinese Ministry of Commerce said – Friday – that Minister Wang One Tao exchanged views with his Saudi and South African counterparts regarding the response to “American counter -tariffs”.
She added that the talks took place in two separate calls via a television circle yesterday, adding that China discussed the strengthening of bilateral and commercial cooperation with Saudi Arabia and South Africa.
The ministry said that Wang discussed with Saudi Minister Majid bin Abdullah Al -Qasabi ways to enhance cooperation with the Gulf Cooperation Council, while in his contact with the Minister of Commerce in South Africa Parks Tao the role of the Group of Twenty and the Brex Gathering.
Australia rejects China’s offer to cooperate in the face of American customs duties.
On Thursday, Australia rejected a proposal from China to work together to confront American customs duties, and said that it will instead continue to diversify its trade and reduce its dependence on China, which is its largest commercial partner.
The Chinese ambassador to Australia urged – in an opinion article in a newspaper – Kanbra to cooperate with Beijing to defend the multilateral global trade system.
“In light of developments, China stands fully prepared to cooperate with Australia and the international community to respond jointly to changes in the world,” he said.
Trade War sequence
- On April 2, Trump imposed customs duties on Chinese imports by 34%, in addition to 20%precedent imposed during the previous two months, prompting Beijing to respond similarly and imposed the same percentage (34%) on US exports.
- Washington replied by imposing another 50%, raising the percentage to 104%, Tuesday, to meet Beijing by raising the percentage of fees on American goods from 34% to 84%.
- Trump came back on Wednesday – raising the fees on China to 125%.
- The White House announced that the recent customs tariffs imposed on China include only mutual fees, and that the total tariff rate reached 145% when included in the fees imposed due to the “Fintanel” crisis.
- Today, Friday, China decided to raise customs duties on the United States of America to 125%, amid the escalation of trade tension between the two countries.
- In early April, Trump announced the imposition of customs duties that he said was “mutual” on all countries of the world with a minimum of 10%.
