exemptions from import levies on consumer electronics<\/a>, which it said was a \u201csmall step\u201d in correcting President Donald Trump\u2019s \u201cwrong practice\u201d of imposing 145 percent tariffs on Chinese goods.<\/p>\n\u201cChina is now evaluating the impact,\u201d a Ministry of Commerce spokesperson said in a statement on Sunday, after Washington said smartphones, computers and other electronics would be excluded.<\/p>\n
US Commerce Secretary Howard Lutnick on Sunday told ABC\u2019s This Week that smartphones, computers and some other electronics would come under separate tariffs, along with semiconductors that may be imposed in a month or so.<\/p>\n
Beijing called on Washington to \u201ccompletely cancel\u201d its reciprocal tariffs. \u201cWe urge the US to \u2026 take a big step to correct its mistakes, completely cancel the wrong practice of \u2018reciprocal tariffs\u2019 and return to the right path of mutual respect,\u201d the Commerce Ministry statement said.<\/p>\n
The Trump administration late on Friday granted exclusions from steep tariffs on electronics, imported largely from China, providing a big break to tech firms like Apple that rely on imported products.<\/p>\n
The move came as retaliatory Chinese import tariffs of 125 percent on US goods took effect on Saturday, with Beijing standing defiant against its primary trade competitor.<\/p>\n
Washington and Beijing\u2019s escalating tariff battle has raised fears of an enduring trade war between the world\u2019s two largest economies and sent global markets into a tailspin.<\/p>\n
The fallout has sent shockwaves through the US economy, with investors dumping government bonds and the dollar tumbling.<\/p>\n
U.S. Trade Representative Jamieson Greer told CBS Sunday that there are no plans yet for Trump to speak with Chinese President Xi Jinping.<\/p>\n
Trump insisted on Friday on his Truth Social platform that \u201cwe are doing really well on our tariff policy\u201d, even after Beijing announced its latest hike.<\/p>\n
While Trump has referred to tariffs as a way to bring manufacturing back to the US, analysts say it will likely take years to ramp up domestic production.<\/p>\n","protected":false},"excerpt":{"rendered":"Beijing calls on Washington to \u2018completely cancel\u2019 its reciprocal tariffs amid an escalating trade war. China has welcomed…\n","protected":false},"author":2,"featured_media":16902,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5311],"tags":[11410,1395,12,49,978,659],"class_list":{"0":"post-16901","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-united-states","8":"tag-asia-pacific","9":"tag-china","10":"tag-news","11":"tag-united-states","12":"tag-us","13":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114331480742479966","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/16901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=16901"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/16901\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/16902"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=16901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=16901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=16901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}