Washington threatens to increase tariffs if Beijing does not adhere to its pledges

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Washington threatens to increase tariffs if Beijing does not adhere to its pledges

Declare US Secretary of the Treasury Scott Besant Sunday that Washington is ready to increase Customs duties imposed on China If the latter does not adhere to its pledges not to prevent exports of rare earths.
Scott Besant said during an interview with Fox News: The Chinese have controlled this market, and unfortunately they have proven at times to be unreliable partners in trade.
In the wake of the agreement and"Good faith" Which the two presidents demonstrated, said the US Treasury Secretary "I hope we can count on them to be more reliable partners"
He warned that otherwise "We may wave the tariff threat again and play many other cards as well"

Suspension of Chinese restrictions

Chinese authorities indicated on Thursday that they had suspended for a year the additional restrictions they imposed on October 9 on exports of rare earths vital to the global technology sector.
These mineral elements are extracted in many countries, including the United States, but China has an almost monopoly on processing them to make them usable in industry.

However, some of the restrictions previously imposed by Beijing remain in effect.
The suspension was announced after talks between US President Donald Trump And the Chinese Xi Jinping in South Korea.

Stopping the flow of fentanyl

Under the agreement announced this week, the US government will reduce customs duties on Chinese exports to the United States from 57% to 47%.
The protocol concluded between the two largest economies in the world also stipulates that China will take… "Big steps to stop the flow of fentanyl into the United States"according to a document published by the White House.
Fentanyl is a powerful opioid whose abuse leads to the deaths of tens of thousands of people from overdoses annually in the United States.
According to the US Drug Enforcement Administration, China is the main source of fentanyl entering the United States.