fredag 4. april 2025
Taiwan: Cabinet decries US’ 32 percent tariffs
The Executive Yuan yesterday decried US President Donald Trump’s 32 percent tariff on Taiwanese goods announced hours earlier as “unfair,” saying it would lodge a representation with Washington. The Cabinet in a statement described the pledged US tariffs, expected to take effect on Wednesday next week, as “deeply unreasonable” and “highly regrettable.” Cabinet spokeswoman Michelle Lee said that the government would “lodge a solemn representation” with the US Trade Representative and continue negotiating with Washington to “ensure the interests of our nation and industries.”
Are Trump's Asia tariffs a 'full-frontal assault' on China?
As US President Donald Trump laid out tariffs on virtually every one of America's trading partners on Wednesday, he had strong words for Beijing. "I have great respect for President Xi [Jinping] of China, great respect for China, but they were taking tremendous advantage of us," Trump said during his roughly hour-long address.
Holding up a chart listing countries and territories that he said had put up trade barriers to US goods, Trump said: "If you look at that... China, first row, 67%. That's tariffs charged to the USA, including currency manipulation and trade barriers." "We are going to be charging [them] a discounted reciprocal tariff of 34%," he added. "In other words, they charge us, we charge them, we charge them less. So how can anybody be upset?"
But China's Commerce Ministry immediately called the move "a typical act of unilateral bullying" and pledged to take "resolute countermeasures to safeguard its rights and interests".
Holding up a chart listing countries and territories that he said had put up trade barriers to US goods, Trump said: "If you look at that... China, first row, 67%. That's tariffs charged to the USA, including currency manipulation and trade barriers." "We are going to be charging [them] a discounted reciprocal tariff of 34%," he added. "In other words, they charge us, we charge them, we charge them less. So how can anybody be upset?"
But China's Commerce Ministry immediately called the move "a typical act of unilateral bullying" and pledged to take "resolute countermeasures to safeguard its rights and interests".
China urges U.S. to 'immediately' cancel reciprocal tariffs, vows countermeasures
China's Ministry of Commerce urged the U.S. to "immediately cancel" its unilateral tariff measures and vowed to take "resolute counter-measures" to safeguard its own rights and interests, after U.S. President Donald Trump announced what analysts described as the steepest tariff hikes in a century.
"The U.S. has drawn the so-called 'reciprocal tariffs' based on subjective and unilateral assessments, which goes against international trade rules and seriously undermine the legitimate rights and interests of relevant parties," a commerce ministry spokesperson said in a statement, translated by CNBC. The Chinese official described the Trump administration's decision to impose reciprocal tariffs as a "typical unilateral bullying practice," adding that many countries have expressed "strong dissatisfaction and clear opposition."
The statement comes after Trump announced a baseline tariff of 10% on all countries and steeper rates on many countries, including 34% on China, 20% on the European Union, 46% on Vietnam and 32% on Taiwan.
"The U.S. has drawn the so-called 'reciprocal tariffs' based on subjective and unilateral assessments, which goes against international trade rules and seriously undermine the legitimate rights and interests of relevant parties," a commerce ministry spokesperson said in a statement, translated by CNBC. The Chinese official described the Trump administration's decision to impose reciprocal tariffs as a "typical unilateral bullying practice," adding that many countries have expressed "strong dissatisfaction and clear opposition."
The statement comes after Trump announced a baseline tariff of 10% on all countries and steeper rates on many countries, including 34% on China, 20% on the European Union, 46% on Vietnam and 32% on Taiwan.
China vows to counter Trump’s ‘bullying’ tariffs as global trade war escalates
China has vowed to hit back after President Donald Trump announced major new tariffs on its exports to the United States as part of his radical overhaul of a century of American global trade policy. Trump unveiled 54% tariffs on all Chinese imports into the US Wednesday, in a move poised to push a major reset of relations and escalate a trade war between the world’s two largest economies.
“China firmly opposes this and will resolutely take countermeasures to safeguard its own rights and interests,” China’s Ministry of Commerce said in a statement Thursday morning.
The ministry slammed the move that stands as a centerpiece in Trump’s effort to reshape the rules of international trade as “typical unilateral bullying practice,” while urging the US to cancel the tariffs and “properly resolve differences with its trading partners through equal dialogue.” “The United States has drawn the so-called ‘reciprocal tariffs’ based on subjective and unilateral assessments, which is inconsistent with international trade rules and seriously damages the legitimate rights and interests of relevant parties,” the statement said.
“China firmly opposes this and will resolutely take countermeasures to safeguard its own rights and interests,” China’s Ministry of Commerce said in a statement Thursday morning.
The ministry slammed the move that stands as a centerpiece in Trump’s effort to reshape the rules of international trade as “typical unilateral bullying practice,” while urging the US to cancel the tariffs and “properly resolve differences with its trading partners through equal dialogue.” “The United States has drawn the so-called ‘reciprocal tariffs’ based on subjective and unilateral assessments, which is inconsistent with international trade rules and seriously damages the legitimate rights and interests of relevant parties,” the statement said.
Businesses spent years diversifying away from China. Trump’s trade war could destroy those economies
For Tim Hsu, who sells modern lamps and ceiling lights mostly to American customers, US President Donald Trump’s historic tariff announcement has upended his carefully made plans.
Last year, the Taiwanese businessman decided to invest in Cambodia to diversify his production base beyond his traditional stronghold of south China. He was preemptively hedging against the risk of possible higher tariffs on China during Trump’s second term. But Wednesday’s announcement of an unexpectedly harsh levy on all US imports from Cambodia, the highest rate in Asia and second-highest globally, has changed everything.
“If the 49% tariff remains unchanged, we will withdraw our investment from Cambodia,” Hsu told CNN.
For now, his next move remains uncertain as questions linger over whether the steep tariff will stay. Pulling out of Cambodia is relatively easy for him because the investment is still in an early stage. But for many other companies with long established factories employing thousands of workers in the country, one of Asia’s poorest, the tariff news is nothing short of devastating. And it’s not alone.
Last year, the Taiwanese businessman decided to invest in Cambodia to diversify his production base beyond his traditional stronghold of south China. He was preemptively hedging against the risk of possible higher tariffs on China during Trump’s second term. But Wednesday’s announcement of an unexpectedly harsh levy on all US imports from Cambodia, the highest rate in Asia and second-highest globally, has changed everything.
“If the 49% tariff remains unchanged, we will withdraw our investment from Cambodia,” Hsu told CNN.
For now, his next move remains uncertain as questions linger over whether the steep tariff will stay. Pulling out of Cambodia is relatively easy for him because the investment is still in an early stage. But for many other companies with long established factories employing thousands of workers in the country, one of Asia’s poorest, the tariff news is nothing short of devastating. And it’s not alone.
India passes controversial bill on Muslim properties after fierce debate
After hours of heated debate, India's parliament has passed a controversial bill that seeks to change how properties worth billions of dollars donated by Muslims over centuries are governed. The upper house passed the Waqf (Amendment) Bill, 2024 early on Friday, a day after the lower house cleared it amid strong opposition criticism.
Muslim leaders and opposition parties say the bill is "unconstitutional" and infringes on the rights of India's Muslim-minority community. But the government says the bill aims to make the management of waqf (Muslim properties) more transparent. The bill will now be sent to India's president for her assent before it becomes law. This approval is expected to come soon. Prime Minister Narendra Modi called the passing of the bill a "watershed moment".
Muslim leaders and opposition parties say the bill is "unconstitutional" and infringes on the rights of India's Muslim-minority community. But the government says the bill aims to make the management of waqf (Muslim properties) more transparent. The bill will now be sent to India's president for her assent before it becomes law. This approval is expected to come soon. Prime Minister Narendra Modi called the passing of the bill a "watershed moment".
South Korea's president has been removed from power: What happens now?
South Korea's president has been removed from office after the Constitutional Court voted unanimously to uphold his impeachment. Yoon Suk Yeol was suspended from duty in December after being impeached by parliament, following his failed attempt to impose martial law. The ruling on Friday was met with tears of joy and sadness among Yoon's critics and supporters, who had gathered in various parts of Seoul to watch the verdict live. A snap election to vote for Yoon's replacement must be held by 3 June.
After months of anxiously waiting, South Koreans have some badly needed closure. The country can now start to repair and move forward, the first step being to elect a new leader. But the crisis Yoon has unleashed is far from over. Although his military takeover only lasted six hours, the political fallout has only intensified with each month that has passed.
After months of anxiously waiting, South Koreans have some badly needed closure. The country can now start to repair and move forward, the first step being to elect a new leader. But the crisis Yoon has unleashed is far from over. Although his military takeover only lasted six hours, the political fallout has only intensified with each month that has passed.
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