Beijing (TDI): In response to United States’ announcement of “reciprocal tariffs” on all its trade partners, China’s commerce ministry said on Thursday that Beijing strongly opposes the move and will firmly take countermeasures to protect its own interests.
“There is no winner in a trade war, and protectionism leads nowhere. China urges the United States to immediately remove unilateral tariffs and resolve differences with trade partners through negotiations,” a ministry spokesperson said.
Amid widespread opposition, US President Donald Trump declared a “national emergency” and announced a massive “reciprocal” tariff policy on Wednesday US time, setting a baseline tariff of 10% on all imported items, with higher tariffs on many nations, according to US media.
The plan imposes steep tariff rates on many nations, including 49% on Cambodia, 46% on Vietnam, 34% on China, 24% tariff on Japan, 20% on the EU, US media reported, noting that more than 180 nations and regions will face tariffs.
The US claims that it has suffered losses in global trade and is using so-called “reciprocity” as a justification to raise tariffs on all its trading partners. This approach disregards the balance of interests achieved through years of multilateral trade talks and ignores the fact that Washington long reaped considerable benefits from international trade, the MOFCOM spokesperson said.
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“The so-called ‘reciprocal tariffs,’ determined based on unilateral and subjective assessments, violate global trade rules, severely undermine the legitimate rights and interests of relevant parties, and represent a typical act of unilateral bullying. Many trading partners have already expressed strong dissatisfaction and clear opposition to this decision,” the spokesperson added.
Read More: China Slams US Tariffs, Rejects ‘Two-Faced’ Approach
History has proven that raising tariffs does not solve United States’ own problems — it harms US interests while also threatening global economic development and the stability of industrial and supply chains, the spokesperson said.
