Beijing towards more countermeasures against US tariffs
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The Chinese government declared yesterday that it is willing to “fight until the end" against US tariffs, even implementing countermeasures aimed at safeguarding Beijing's national interests. This decision follows some statements made by US President Donald Trump who, in the late afternoon yesterday, threatened to impose an additional 50% tariffs on Chinese goods imported into the US if the Chinese government does not remove the retaliatory tariffs – set at 34% – on US goods by April 8th.
Chinese Commerce Minister Wang Wentao stated that the so-called “reciprocal tariffs” imposed by the US were done without any basis and that this is a unilateral bullying practice. Wentao also mentioned that the threat of an additional 50% tariff on Chinese exports constitutes another mistake by the Trump administration, suggesting that Beijing could decide to adopt further countermeasures.
If the Trump administration proceeds with an additional 50% tariff on Chinese goods imported into the US, the total tariff would reach 104%. However, US consumers would also bear the consequences of this decision, as prices would rise dramatically, leading China to shift – with the competitiveness of Chinese prices – towards other markets and strengthen trade relations with other countries. Analysts also predict that Beijing will have a wide range of options to respond to US tariffs: for example, it could target US financial services or law firms operating in China.
Chinese Commerce Minister Wang Wentao stated that the so-called “reciprocal tariffs” imposed by the US were done without any basis and that this is a unilateral bullying practice. Wentao also mentioned that the threat of an additional 50% tariff on Chinese exports constitutes another mistake by the Trump administration, suggesting that Beijing could decide to adopt further countermeasures.
If the Trump administration proceeds with an additional 50% tariff on Chinese goods imported into the US, the total tariff would reach 104%. However, US consumers would also bear the consequences of this decision, as prices would rise dramatically, leading China to shift – with the competitiveness of Chinese prices – towards other markets and strengthen trade relations with other countries. Analysts also predict that Beijing will have a wide range of options to respond to US tariffs: for example, it could target US financial services or law firms operating in China.