Tariff War: China Lifts Tariffs on US Semiconductors
China has decided to de-escalate the tariff war: Beijing, without any official announcement, has lifted the 125% tariffs on certain semiconductors produced in the United States.
Experts believe that China is trying to soften the blow of the trade war on its technology sector. This was reported by CNN, citing data from three import agencies.
Specifically, the easing concerns integrated circuits, also known as microchips or semiconductors.
It is worth recalling that on April 12, China raised its tariffs on all goods from the U.S. to 125%. This was a mirror response to the decision by U.S. President Donald Trump to increase tariffs on Chinese goods to 145%.
Beijing has not changed the overall direction of its main policy regarding the tariff war initiated by the U.S. and continues to project confidence. However, it needs to lift some tariffs on critical goods that it cannot produce domestically or import from other countries.
The United States launched the tariff war with all its key trading partners, allegedly to encourage import substitution. Key partners traditionally promised the U.S. mirrored responses. There are unlikely to be any winners in this standoff, but the side that suffers greater losses will ultimately influence how global trade — and therefore the world economy — will evolve.
Latest news:
Let's remember Politeka wrote, Peace Deal to End the War in Ukraine: Trump Promised Great Prospects.
Politeka also informed, USA-China trade war: Xi Jinping appeals to ‘Asian family’.
In addition, Politeka informed, There May Be a Collusion Between Russia and the US – Expert on Changes in American Politics.