China Promises Countermeasures in Response to New U.S. Tariffs
China has pledged to take countermeasures against additional U.S. tariffs announced by President Trump. The tariffs, including a new 10 percent levy on Chinese imports and 25 percent on Canadian and Mexican goods, intensify ongoing trade tensions. As Asian markets react negatively, leaders from Canada and Mexico seek to avert the tariffs through discussions. China emphasizes that broader economic stability is at risk due to these measures.
On Friday, China responded to U.S. President Donald Trump’s announcement of a 10 percent tariff on Chinese imports, pledging to implement all necessary countermeasures. This tariff adds to a previous one of the same rate initiated earlier that month and coincides with 25 percent tariffs on imports from Canada and Mexico, exacerbating trade tensions between the two largest economies worldwide.
The 10 percent tariff on Chinese goods will take effect on March 4. Meanwhile, global markets opened lower in Asia as fears mount regarding the potential economic fallout from the escalating trade conflict. Trump’s newly announced tariffs on Canadian and Mexican imports stem from concerns over illegal immigration and fentanyl issues, although energy imports from Canada face a reduced rate.
Trump, facing questions about the tariffs, declared on social media that they would be implemented unless the fentanyl crisis is significantly addressed, insisting that China would also incur an additional tariff. In reaction, a spokesperson from China’s commerce ministry accused the U.S. of deflecting responsibility. “China is one of the countries with the strictest and most thorough anti-narcotics policy in the world,” the statement claimed.
China warned that the increasing tariffs would not solve U.S. domestic issues but would rather impose greater burdens on American businesses and consumers, potentially destabilizing global supply chains. In preparation for the expected tariffs, Chinese leadership plans to convene to establish strategies for economic protection.
Meanwhile, Mexican President Claudia Sheinbaum expressed a desire to engage with Trump to find a mutual resolution to avoid the tariffs. In parallel, Prime Minister Justin Trudeau of Canada indicated that officials are working tirelessly to prevent the imposition of U.S. levies and emphasized that the Canadian border accounts for a negligible fraction of fentanyl and undocumented migrants entering the U.S.
Market reactions have reflected the anxiety triggered by Trump’s tariff threats, with Asian markets notably declining. In addition to the levies over fentanyl, Trump reinforced the continuation of reciprocal tariffs designed for each trading partner, promising further details pending the completion of government study assessments on trade issues.
In summary, the U.S.-China trade tensions are intensifying as President Trump imposes new tariffs on Chinese imports alongside additional levies on Canada and Mexico. China’s commitment to countermeasures indicates a readiness to protect its economic interests. The situation remains fluid, with leaders from Mexico and Canada actively seeking dialogue to mitigate the impending tariffs, highlighting concerns over the broader economic impact of these policies.
Original Source: www.wfxg.com
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