Beijing\u2019s comments come after White House says Chinese exports could face duties of up to 245 percent
\n Oakland
\nChina\u2019s Ministry of Foreign Affairs has said it will pay no attention to United States President Donald Trump\u2019s \u201ctariff numbers game\u201d after the White House suggested Chinese exports are facing tariffs of up to 245 percent.
\nThe White House disclosed the latest tariff rates in a fact sheet earlier this week.
\nThe fact sheet includes Trump\u2019s recent 125 percent tariff and earlier 20 percent tariff imposed in response to Beijing\u2019s alleged failure to curb fentanyl exports to the US, as well as potential duties of between 7.5 percent and 100 percent that could be imposed following national security reviews launched under the Trade Act of 1974.
\nBeijing\u2019s remarks on Thursday echoed those made last week by the Ministry of Finance, which described Trump\u2019s escalating tariffs as a \u201cjoke\u201d because they no longer have \u201cany economic significance\u201d.
\nChina\u2019s tariffs on US goods stand at 125 percent, but Beijing has also taken other non-tariff punitive measures, including limiting the release of Hollywood films.
\nEconomists have said that Trump\u2019s tariffs, if not eased, will bring a halt to most trade between the US and China due to the exorbitant rise in costs.
\nThe World Trade Organization on Wednesday said that the volume of global trade is expected to decline by 0.2 percent in 2025 under current conditions \u2013 or \u201cnearly three percentage points lower\u201d than a low-tariff baseline scenario.
\nThe spillover effect of Trump\u2019s \u201creciprocal tariffs\u201d, most of which have been paused until July, could lead to an \u201ceven sharper decline of 1.5 percent in global goods trade and hurt export-oriented least-developed countries,\u201d the WTO said.
\nThe UN\u2019s Trade and Development (UNCTAD) office also revised its prediction for global growth downwards from 2.5 percent to 2.3 percent in 2025, noting in its assessment that growth below a threshold of 2.5 percent often signals a global recession.<\/p>\n","protected":false},"excerpt":{"rendered":"
Beijing\u2019s comments come after White House says Chinese exports could face duties of up to 245 percent Oakland China\u2019s Ministry of Foreign Affairs has said it will pay no attention to United States President Donald Trump\u2019s \u201ctariff numbers game\u201d after the White House suggested Chinese exports are facing tariffs of up to 245 percent. The […]<\/p>\n","protected":false},"author":2,"featured_media":473198,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"post-473181","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world"},"yoast_head":"\n