BEIJING: China on Tuesday swiftly retaliated against fresh US tariffs, announcing 10 percent-15 percent hikes to import levies covering a range of American agricultural and food products, moving the world’s top two economies a step closer toward an all-out trade war.
Beijing also placed twenty five US firms under export and investment restrictions on national security grounds, but refrained from punishing any household names, as it did when it retaliated against the Trump administration’s February 4 tariffs.
Ten of these 25 US firms were targeted by China for selling arms to Taiwan, which China claims as its own territory.
China’s latest retaliatory tariffs came as the extra 10 percent duty US President Donald Trump threatened China with last week entered into force at 0501 GMT on March 4, resulting in a cumulative 20 percent tariff in response to what the White House considers Chinese inaction over drug flows.
China has accused the US of fentanyl blackmail and it has some of the toughest anti-drug policies in the world.
Analysts have said Beijing still hoped to negotiate a truce with the Trump administration, but the tit-for-tat retaliatory tariffs threaten to escalate into an all-out trade war between the two economic giants.
The new US tariffs represent an additional hike to preexisting levies on thousands of Chinese goods.
Some of these products bore the brunt of sharply higher US tariffs under former president Joe Biden last year, including a doubling of duties on Chinese semiconductors to 50 percent and a quadrupling of tariffs on Chinese electric vehicles to over 100 percent.
The 20 percent tariff will apply to several major US consumer electronics imports from China that were previously untouched, including smartphones, laptops, videogame consoles, smartwatches and speakers and Bluetooth devices.
China responded immediately after the deadline, announcing it will impose an additional 15 percent tariff on US chicken, wheat, corn and cotton and an extra 10 percent levy on US soybeans, sorghum, pork, beef, aquatic products, fruits and vegetables and dairy imports from March. 10, the finance ministry announced in a statement.
“The US’s unilateral tariffs measures seriously violate World Trade Organization rules and undermine the basis for economic and trade cooperation between China and the US,” China’s commerce ministry said in a separate statement.
“China will firmly safeguard its legitimate rights and interests,” the statement added.
China hits back at US imports as Trump’s fresh tariffs take effect
https://arab.news/98mge
China hits back at US imports as Trump’s fresh tariffs take effect
- Beijing also places 25 US firms under export and investment restrictions on national security grounds
- China has accused the US of fentanyl blackmail and it has some of the toughest anti-drug policies in the world
Bangladesh’s religio-political party open to unity govt
- Opinion polls suggest that Jamaat-e-Islami will finish a close second to the Bangladesh Nationalist Party in the first election it has contested in nearly 17 years
DHAKA: A once-banned Bangladeshi religio-political party, poised for its strongest electoral showing in February’s parliamentary vote, is open to joining a unity government and has held talks with several parties, its chief said.
Opinion polls suggest that Jamaat-e-Islami will finish a close second to the Bangladesh Nationalist Party in the first election it has contested in nearly 17 years as it marks a return to mainstream politics in the predominantly Muslim nation of 175 million.
Jamaat last held power between 2001 and 2006 as a junior coalition partner with the BNP and is open to working with it again.
“We want to see a stable nation for at least five years. If the parties come together, we’ll run the government together,” Jamaat chief Shafiqur Rahman said in an interview at his office in a residential area in Dhaka, days after the party created a buzz by securing a tie-up with a Gen-Z party.
Rahman said anti-corruption must be a shared agenda for any unity government.
The prime minister will come from the party winning the most seats in the Feb. 12 election, he added. If Jamaat wins the most seats, the party will decide whether he himself would be a candidate, Rahman said.
The party’s resurgence follows the ousting of long-time Prime Minister Sheikh Hasina in a youth-led uprising in August 2024.
Rahman said Hasina’s continued stay in India after fleeing Dhaka was a concern, as ties between the two countries have hit their lowest point in decades since her downfall.
Asked about Jamaat’s historical closeness to Pakistan, Rahman said: “We maintain relations in a balanced way with all.”
He said any government that includes Jamaat would “not feel comfortable” with President Mohammed Shahabuddin, who was elected unopposed with the Awami League’s backing in 2023.
