Yellen’s warning about China’s response to the US tariff action

According to the international group Tasnim news agency, US Treasury Secretary Janet Yellen said on the eve of the announcement of new tariffs on Chinese exports face any tariff action.

He added to reporters: He and other American officials have made it clear to China that they may first re-adjust the more strategic tariffs related to the Trump administration, but every The type of change is desired in this regard.

Yellen clarified that we made it clear that we may decide on the correctness of readjusting what has been done in a more strategic way by reviewing this law.

Secretary of the US Treasury from the presentation He declined to provide any further details about the expected changes to US tariffs on Chinese products, but the Biden administration assured that it has notified Chinese officials of any action.

Yellen said that President Biden believes that everything we should do to do, is the cause of our concern and is not comprehensive and we hope not to face a significant and retaliatory response from Beijing. But everything is always possible. We also hope that China will understand that our actions are targeted and we will do our best to be targeted and we will see what happens.

In response to a question about whether America is looking for a trade war With China, he said: We are working hard to stabilize the economic relations between them. We don’t want to be economically independent from China, but we think that the game should be fair and China has applied unfair measures such as massive subsidies.

three days ago Three knowledgeable sources reported that US President Joe Biden will unveil a decision to impose new tariffs on Chinese exports by next week, which will affect the country’s strategic and key sectors. It is focused.

According to this report, one of the new tariffs includes a major increase The major tariffs are on electric vehicles, which target trade relations with the United States and will maintain existing tariffs on many Chinese goods imposed by Donald Trump.

These sources added in a conversation with Reuters: In this new tariff directive New taxes are imposed on semiconductors and solar equipment, as well as an increase in taxes on electric vehicles. Chinese-made medical equipment, such as syringes and personal protective equipment, also includes higher tariffs.

This is while Joe Biden seeks to differentiate his view of China from Donald Trump, who has proposed nationwide tariffs. Trump has also promised to impose tariffs of 60 percent or more on all Chinese goods.

The implementation of this tariff may trigger a retaliatory action by the Chinese government at a time when there are growing tensions between the world’s two largest economies. Trump’s imposition of more extensive tariffs on China during his presidency from 2017 to 2021 has sparked Washington’s tariff war with Beijing

Also in the American government, discussions Preparations have been made to sanction Chinese banks for supporting Russia in the war against Ukraine, but officials told Reuters the government has no plans to do so yet.

Washington has imposed sanctions on various Chinese companies, which Washington has accused of collaborating with China’s military industry, despite these companies’ denials. . American sanctions have also been imposed on Chinese individuals and institutions that are accused of violating human rights in the Xinjiang region.

In recent months, relations between America and China have witnessed There are signs of improvement as both sides take steps to re-establish communication channels after growing tensions between them in recent decades.

US imposes new tariffs on Chinese exports