China appoints new trade representative after US call to resolve deadlock
Chinese made cars wait to be loaded at the port in Nanjing, in China’s eastern Jiangsu province. Pic/AFP
China now faces tariffs up to 245 per cent on imports to the US due to its retaliatory actions, the White House has said, as the trade war escalated between the world’s two largest economies. Separately in a post on Truth Social, President Donald Trump said on Tuesday that China “just reneged on the big Boeing deal, saying that they will ‘not take possession’ of fully committed to aircraft”.
He appeared to be confirming reports that China has asked its airlines not to take deliveries of planes from American aircraft manufacturer Boeing. In the post, he also vowed to protect the US and its farmers in a trade war with its adversaries, such as China. In a fact sheet issued on Tuesday (local time), the White House said President Trump signed an executive order launching an investigation into the national security risks posed by US reliance on imported processed critical minerals and their derivative products.
“More than 75 countries have already reached out to discuss new trade deals. As a result, the individualised higher tariffs are currently paused amid these discussions, except for China, which retaliated,” it said. “China now faces up to a 245 per cent tariff on imports to the US as a result of its retaliatory actions,” the fact sheet said, without giving details.
China appoints new trade rep
On Wednesday, China appointed Li Chenggang, who has decades of experience handling international negotiations and also served as China’s ambassador to the World Trade Organization, as international trade representative at the Ministry of Commerce. The move came after President Trump said the ball was in Beijing’s court to work out a deal to end the tariff deadlock.
Trump earlier called on China to reach out to him to kick off negotiations to resolve the trade war between the world’s two largest economies. “The ball is in China’s court. China needs to make a deal with us. We don’t have to make a deal with them,” White House Press Secretary Karoline Leavitt said on Tuesday, reading what she said was a statement dictated by Trump.
HK to stop shipping parcels
Hong Kong’s post office will stop shipping small parcels to the US after Washington announced plans to charge tariffs on small-value parcels from the southern Chinese city. The US government earlier announced that it would end a customs exception allowing small-value parcels from Hong Kong to enter the US without tax, slapping a 120 per cent tariff on them starting from May 2.Agencies
US halts Nvidia H20 chip exports
The US has enacted restrictions on the export of Nvidia’s H20 chips to China, tightening its control over the trade of advanced AI technology with Beijing as part of Washington’s strategy to exert pressure on China amid an ongoing tariff dispute. Nvidia, a prominent player in AI chip development worldwide, said on Tuesday that the US government informed them on April 9 that exporting its H20 chips to China would now necessitate government permission. Nvidia said the restriction would be in effect indefinitely.
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