After returning to the office on January 20th, Trump struck China, the world’s second largest economy, with an additional 10% levied on products entering the US.
Trump signed an executive order last week, which is scheduled to come into effect on March 12th, imposing a new 25% tariff on steel and aluminum last week.
And he said Tuesday that US tariffs on imported cars were around 25%, providing new information about his job duties scheduled to be announced around April 2.
“The world is facing a series of tariff shocks,” China’s WTO ambassador Li Chenggang said at the first meeting of the World Trade Organization’s General Council for Decision Making.
“The United States has unilaterally and arbitrarily imposed or threatened tariffs on China, including China, which blatantly and blatantly violated WTO rules.
“These tariff shocks raise economic uncertainty, disrupt global trade, risk domestic inflation, market distortions, and even global recessions.”
Lee went on to say that the unilateral US conduct threatened to overturn the system of multilateral trading based on rules.
SD/