Beijing will tax imports of hydrocarbons, coal and certain vehicles from the United States, replicating at the entry into force on Tuesday of reinforced American customs rights targeting Chinese products, climbing in the commercial showdown Engaged by Donald Trump.
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China will impose customs duties from 15 % on February 10 on imports of American coal and natural gas (LNG), the Chinese finance ministry announced.
10 % customs taxes will also be applied to imports of American oil and other categories of goods from the United States: agricultural machines, large displacement sports vehicles and van.
These measures were announced a few minutes after the entry into force of a 10 % increase in American customs duties on all products imported from China.
These taxes promulgated by Donald Trump “does nothing to solve the own problems (in the United States) and disrupt economic and commercial cooperation” between the two countries, justified the Chinese finance ministry.
Beijing announced that it had filed a complaint against Washington to the World Trade Organization (WTO), denouncing Washington’s “malicious” intentions.
Hydrocarbons and coal sales from the United States to China have totaled the equivalent of $ 7 billion last year, according to Chinese customs data, a major market for American exporters.
But for China, this figure remains insignificant compared to energy imports from Russia (more than $ 90 billion last year).
Beijing has also unveiled a new salvo of restrictions on the exports of several metals and critical metals used in industry and high technology: Tungsten, Tellure, Bismuth, Molybdène …
Finally, at the same time, China has opened an anti-monopoly survey against the American technological giant Google, and having placed several American companies-the ready-to-wear group PVH Corp., which owns Tommy Hilfiger and Calvin Klein-and the giant Illumina biotech- on its list of “unreliable entities”.
Targeted replica
“The Chinese response is not aggressive, because China only targets certain products while American customs duties target all Chinese exports,” says Zhiwei Zhang, economist for Pinpoint Asset Management.
“It is probably only about a long negotiation process between the two countries,” added the expert.
Chinese announcements are acting as the approach of a possible discussion between Chinese President Xi Jinping and his American counterpart Donald Trump, announced on Monday, “probably” in “the 24 hours” by the White House.
The American president had formalized customs duties of 25 % on Saturday on products from Canada and Mexico, in addition to the additional rights targeting Chinese products.
Donald Trump said he wanted to force these three countries to act to reduce fentanyl traffic, an opioid responsible for a serious health crisis in the United States, and resolve a heavyly deficit American trade balance.
Beijing denies all passivity on the fentanyl file, and says not knowingly “seek” a trade surplus.
Donald Trump, who has said on numerous occasions that “Tariff” (customs law) was one of the most beautiful words of the dictionary, is readily recognized as a negotiation weapon to obtain political concessions.
In a last minute agreement, Washington suspended on Monday evening, for one month, its customs duties taxation project in Canada and Mexico after the two countries agreed to strengthen their border controls.
Asian markets in reaction strongly re -reaction Tuesday at the start of Asian exchanges, before drastically limiting their gains after the announcement of Chinese reprisals.
“Calm spirits”
Mexico notably undertook to send 10,000 additional soldiers to the border with the United States in order to combat illegal migration.
Canada has promised to appoint an official entirely dedicated to the fight against fentanyl traffic, launching a joint intervention force with the United States against organized crime and registering Mexican cartels on his list of terrorist organizations.
The announced compromise has convinced Ontario Province, Canada’s economic lung, to give up on Monday evening to ban the American businesses from public contracts.
Mexico, Canada and China are the main business partners in the United States and represent more than 40 % of imports in the country.
On Monday, the economic adviser of the White House Kevin Hassett indicated on CNBC that the question is not that of a trade war but of a “war against drugs”.
The production of fentanyl chemical precursors in China, then used by Mexican cartels to make this murderous synthetic opioid, is a well -documented phenomenon.
On the other hand, the role of Canada in this traffic is extremely limited. According to official figures for American border services, less than 1 % of the fentanyl in the United States last year arrived from Canada.