China’s Minister Vows to Counter US Tariffs as Trade Tensions Escalate
China’s Foreign Minister, Wang Yi, vows to counter US tariffs imposed by President Trump. He criticizes the US approach as harmful and emphasizes the reciprocal nature of trade ties, while asserting that the US must independently address its fentanyl crisis. Reports suggest the US may introduce further tariffs on Chinese shipping and cargo operations, intensifying trade tensions between the two nations.
China’s Foreign Minister, Wang Yi, has stated that the nation will firmly counter the pressure applied by the United States following President Trump’s imposition of tariffs on Chinese goods. Wang criticized Washington for instigating a trade war, suggesting that such actions represent an approach of ‘meeting good with evil.’ He expressed concern that pursuing solely national interests may lead to a ‘law of the jungle’ scenario globally.
Since Trump’s re-election in January, the US and China have engaged in a series of retaliatory tariffs. The US has implemented flat tariffs of 20 percent on all Chinese imports, prompting China to reciprocate with a 15 percent increase on US goods, including agricultural products and imposing stricter regulations on US businesses.
Wang emphasized the reciprocal nature of China-US economic and trade relations. He asserted, “If you choose to cooperate, you can achieve mutually beneficial and win-win results. If you use only pressure, China will firmly counter.” Furthermore, he dismissed Trump’s claims linking the tariffs to China’s alleged inaction on the US fentanyl crisis, underscoring that the US must address the issue independently.
Wang pointed out that China has made efforts to assist in combating the fentanyl epidemic, stating, “No country can imagine that it can suppress China on one hand while developing good relations with China on the other hand.” He maintained that there are still significant shared interests and potential for cooperation despite the ongoing tensions.
Recent reports indicate the Trump administration may introduce even more tariffs on China. A proposal suggests charging fees for docking at US ports for ships linked to Chinese constructions or flags, a measure aimed at bolstering US shipbuilding and countering China’s dominant position in the global shipping industry. In 1999, Chinese shipbuilders held only 5 percent of global cargo capacity, which has since escalated to over 50 percent.
Additionally, tariffs on Chinese cargo-handling equipment may also be part of the forthcoming measures, as indicated in a draft executive order reported by Reuters. Currently, there has been no official response from either the US administration or Chinese officials regarding these developments.
In conclusion, China remains resolute in countering US tariffs, asserting the reciprocal nature of trade relations. Despite tensions, both nations have shared interests that could facilitate cooperation. The looming threat of further tariffs highlights the geopolitical friction affecting trade dynamics. Continuous dialogue remains essential to navigate these challenges effectively.
Original Source: www.aljazeera.com
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