Trump threatens to raise taxes on almost all Chinese imports
The increase would be from 10 to 25% for 200 billion of goods imported from China. The meeting of 8 May between delegations is in doubt. In the morning session, the Shanghai stock market fell 5% and the Shenzhen one fell 6.5%. Doubts about how to implement and verify non- transfer of technology.
Washington (AsiaNews / Agencies) - US President Donald Trump has announced that by 10 May he will raise taxes on some 200 billion Chinese imports from 10% to 25%. In a tweet released last night, he criticized the fact that the trade negotiations between the two countries are advancing "too slowly".
Trump's decision follows what had already been decided during the one-year duty war. This increase - from 10 to 25% - was to be implemented on March 1, but was then delayed after a meeting between Trump and Xi Jinping in Argentina for the G20.
The dialogue between the two parties seemed to work. Last week the US delegation called them "productive" and expected a positive conclusion in a meeting this week, on May 8, in Washington.
Chinese personalities cited by Bloomberg question the possibility of a meeting this week. Meanwhile, in the morning session, the Shanghai stock market fell by 5% and the Shenzhen one fell by 6.5%.
Unconfirmed rumors state that Trump's sudden hardening is due to a step backwards by China on guarantees of non- transfer of technology and verification methods.
In fact, US requests focus on a greater opening of the Chinese market to American products, and above all on the end of the forced transfer of technologies, as well as on the defense of intellectual property and the end of state subsidies to state enterprises.