China hits back at Trump’s tariff hike, urges US to find middle ground
PTC Web Desk: Tensions between China and the United States continue to rise as US President Donald Trump increased tariffs on Chinese goods to a massive 125%. In response, China strongly criticised the move, calling it harmful not only to the two countries but to the entire world.
On Thursday, Chinese Foreign Ministry spokesperson Lin Jian said these steep US tariffs go against international trading norms and hurt global economic stability. “This is a clear act that goes against the will of the world,” Lin stated.
China's Commerce Ministry spokeswoman He Yongqian also addressed the issue, urging the US to meet China “halfway” in resolving the trade conflict. However, she made it clear that if no deal is reached, China is ready to “fight to the end.” “The door for talks is open,” Yongqian added, “but discussions must be based on mutual respect and equality.”
In retaliation to Trump’s earlier tariff hike, China had already imposed 84% tariffs on US imports on Wednesday, signaling its willingness to match US measures step-by-step in the growing trade dispute.
Even though Trump suddenly paused most of the high tariffs imposed on several other countries, which gave some relief to global stock markets, he maintained a tough stance on China. The increase from 104% to 125% on Chinese imports shows that the US is continuing to pressure Beijing.
Still, Trump left some room for negotiation, stating, “China wants to make a deal. They just don’t know quite how to go about it.” At the same time, his administration signaled that the US would now focus on trade talks with other countries like Vietnam, Japan, and South Korea.
As Washington doubles down, Beijing is reaching out to other nations in an effort to form alliances against the US tariffs. China has recently held discussions with the European Union and Malaysia to boost trade ties. However, Australia rejected China’s offer to work together on this issue.
Deputy Prime Minister Richard Marles made Australia’s position clear: “We are not going to be holding hands with China in respect of any contest that is going on in the world,” he told Sky News.
Despite these tensions, hopes that the Chinese government will support local businesses helped lift China’s stock market on Thursday. However, the Chinese yuan fell to its lowest level since the global financial crisis.
Meanwhile, many Chinese sellers on platforms like Amazon are struggling with the higher costs and may raise prices for American buyers or even exit the US market altogether, according to a Reuters report.
- With inputs from agencies
