China Strikes Back: Trade Tensions With The US Escalate

By -

China has hinted at potential retaliatory actions against the recent trade barriers imposed by the United States, signaling a further escalation in the fraught relationship between the two economic superpowers.

On Sunday, China’s Ministry of Commerce announced the launch of an anti-dumping probe into polyoxymethylene (POM) copolymers. These thermoplastics, used in industries ranging from auto parts to electronics, are imported from the US, the European Union, Taiwan, and Japan. Thermoplastics are malleable when heated but solidify into a fixed shape when cooled, and can sometimes replace metals like copper and zinc.

The ministry stated that the investigation is expected to take a year but may be extended by an additional six months if necessary.

This announcement comes just days after President Joe Biden revealed that tariffs on $18 billion worth of Chinese imports, including electric vehicles (EVs) and other products, will significantly increase over the next two years. Specifically, tariffs on EVs imported from China will nearly quadruple from 27.5% to 100%. This move aims to counter Beijing’s strategy of promoting aggressively low pricing by domestic EV manufacturers, who currently benefit from a 40% tariff on US car imports.

The White House described these measures as essential to protecting American workers and businesses from China’s unfair trade practices, accusing China of "flooding global markets with artificially low-priced exports."

In response, China has vowed to take "all necessary actions to protect its legitimate rights."

Additionally, the EU is also scrutinizing state support for Chinese EV makers. Should the investigation reveal that their prices are artificially low, the EU plans to announce additional import duties by early July.

As both sides prepare for potential economic repercussions, the global market watches closely, aware that these trade tensions could have widespread impacts.

Comments

Post a Comment

Popular posts from this blog

Characters In BBC’s Documentary On TB Joshua Unknown To Us – Synagogue Church

By -
Image
  The Synagogue Church of all Nations (SCOAN) has countered the BBC documentary on the late Temitope Babatunde Joshua, known as TB Joshua, founder of SCOAN. SCOAN described the documentary against TB Joshua as unfounded, and that the characters interviewed in the report were unknown to the church. The church, in a statement signed by its Public Affairs Director, Mr Dare Adejumo, said the statement was aimed at disabusing public minds from the report. The News Agency of Nigeria (NAN) recalls that the BBC released a highly controversial and damning documentary on the late TB Joshua on Monday, accusing him of various crimes, including rape, against some members. SCOAN said, “BBC World Services investigative unit, code-named Africa Eye, came out this week with weird and strange episodes of atrocities against the late founder of SCOAN.” It said that to investigate and publish or broadcast reports was a central kernel of journalism, but to do so outside the ethics and fundamental principles
Read more

NBA Suspends Canada’s Joshua Primo For 4 Games For Exposing Himself To Women

By -
Image
  The NBA has suspended former San Antonio Spurs guard  Joshua Primo   for four games   ... after it says it found he exposed his private parts to multiple women. The league announced the ban on Friday morning ... saying an investigation into the free agent revealed he had "engaged in inappropriate and offensive behavior." NBA officials called his actions "conduct detrimental to the league." They did, however, note that they "did not find evidence that he engaged in any sexual or other misconduct apart from these brief exposures." "Primo maintains that his conduct was not intentional," the league said. Dr. Hillary Cauthen , Primo's former therapist, was the first to  bring the allegations  against Primo to light after she claimed last fall that he exposed himself to her on nine separate occasions. Dr. Cauthen's attorney,  Tony Buzbee , alleged the Spurs were aware of Primo's actions, but didn't take action. Cauthen went on to file
Read more

Sky Sports' On-Air Mix-Up: Chelsea Players Mistakenly Introduced as Axel Disasi Instead of Noni Madueke in Carabao Cup Semifinal

By -
Image
 Sky Sports were left red-faced after an on-screen graphic mistakenly introduced Chelsea defender Axel Disasi as Noni Madueke on Tuesday night. The pair were both the scoresheet as the Blues thrashed Middlesbrough 6-1 at Stamford Bridge in the second leg of the Carabao Cup semi-final to boo their place at Wembley. But when Disasi spoke to Sky Sports after the game, an on-screen graphic introduced him as Madueke instead. Madueke is four years younger than his Chelsea teammate, plays in a different role and is English, while Disasi is French. Viewers immediately spotted the mistake and took to social media to flag up the glaring error.  Sky Sports with a huge mistake as that is Axel Disasi, not Noni Madueke,' another added, while a third described the gaffe as a 'howler'. A fourth commented: 'Sky sports calling Disasi Madueke. They’ve done it again.' Disasi scored Chelsea's third goal in the 6-1 rout, converting Raheem Sterling's cross at the far post after th
Read more