China will impose 1000% tariffs on American products if the US insists on 500% tariffs!

China warned that if the escalation continues trade war with the US he is considering the possibility of introducing duties up to 1000% on American goods!

This move is in response to recent US introduction of tariffs of up to 500% on Chinese goods.

It should be noted that the volume of American exports to China is ten times less than the volume of Chinese exports to the United States.

Senior Chinese government officials blame the US in provoking global instability and warn that continuing the sanctions policy could lead to serious economic consequences for both sides.

Analysts note that while China has already imposed tariffs of up to 125% on some American goods, threat of imposing duties of 1000% highlights the tensions between the world’s two largest economic powers.

In “1-2 weeks” D. Trump will meet with Xi Jinping in South Korea

Earlier, US President Donald Trump confirmed that he would meet with his Chinese counterpart Xi Jinping in South Korea “in 1-2 weeks.”

The issue of duties, which are at an extremely high level, is expected to be brought up for discussion.

In this context, Trump again threatened to impose tariffs of 155% on Chinese goods if the two countries do not reach an agreement by November 1, when the tariffs are due to take effect.

“I think China respects us a lot. He pays us huge sums in duties. As you know, she pays 55%, which is a lot of money. Perhaps from November 1 it will be 155% if we do not reach an agreement,” – he said before bilateral talks with the Australian Prime Minister.

“I expect that we will most likely reach a very fair trade agreement with Chinese President Xi. I think most of you will be there. It will be very interesting.” – Trump added.

The American President also said he would visit China “pretty early in the new year.”

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