Chinese President Xi Jinping said Thursday that the current challenges faced by the European Union (EU) do not come from China, adding that waiting for the block to keep the trade and investment markets open, according to Xinhua.
Outstanding comments
The current challenges facing the EU do not come from China.
We need to properly handle differences and frictions.
I hope the EU keeps trade and investment markets open.
China and the EU have no fundamental conflicts of interest.
He calls on the EU to provide a favorable business environment for Chinese companies.
I hope the EU respects China’s fundamental interests and the main concerns.
Market reaction
At the time of publication, the Aud/USD torque rose 0.33% in the day, quoting 0.6624.
Tariffs – Frequently Questions
Although tariffs and taxes generate government income to finance public goods and services, they have several distinctions. Tariffs are paid in advance in the entrance port, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and companies, while tariffs are paid by importers.
There are two schools of thought among economists regarding the use of tariffs. While some argue that tariffs are necessary to protect national industries and address commercial imbalances, others see them as a harmful tool that could potentially increase long -term prices and bring to a harmful commercial war by promoting reciprocal tariffs.
During the election campaign for the presidential elections of November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy. In 2024, Mexico, China and Canada represented 42% of the total US imports in this period, Mexico stood out as the main exporter with 466.6 billion dollars, according to the US Census Office, therefore, Trump wants to focus on these three nations by imposing tariffs. It also plans to use the income generated through tariffs to reduce personal income taxes.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
