China Signals Firm Resolve in Response to US Tariffs and Trade War

China has stated its readiness to persist in the trade war against the U.S. following Trump’s announcement of reciprocal tariffs. The Chinese government dismissed U.S. claims about fentanyl exports as unjustified, asserting that the issue is rooted in domestic U.S. concerns. In retaliation, China plans to impose tariffs on certain U.S. imports, impacting significant exports. The ongoing discord highlights deteriorating economic relations between the two nations.

China has asserted its determination to “fight till the end” in response to the United States’ ongoing trade conflict, sparked by President Donald Trump’s announcement of reciprocal tariffs on Chinese imports. The Chinese Foreign Ministry criticized the U.S. for utilizing the fentanyl crisis as a weak justification for these tariffs, indicating a strong opposition to U.S. pressure. In a tweet, the Chinese Embassy declared, “If war is what the US wants… we are ready to fight till the end.”

President Trump’s speech to Congress confirmed the imposition of reciprocal tariffs on several nations, including India and China, beginning on April 2. Alongside tariffs, the U.S. has accused China of neglecting its responsibility to limit the export of fentanyl-related chemicals, fueling America’s opioid crisis. China, however, has dismissed these claims as unfounded, stating that the fentanyl issue stems from domestic factors within the U.S. itself.

The Chinese Foreign Ministry responded firmly, asserting that the U.S. is misplacing blame while attempting to pressure China through tariffs. The Ministry emphasized, “Intimidation does not scare us. Bullying does not work on us,” expressing that coercive tactics are ineffective in resolving disputes with China.

During his address, President Trump contended that numerous countries impose higher tariffs on U.S. goods than American tariffs on foreign imports, claiming it is an unfair trade system. He stated that the average tariffs imposed by China are significantly higher than those the U.S. places on Chinese products, calling for reciprocal countermeasures. Furthermore, he claimed such practices had persisted for decades, but would soon be altered by his administration.

In retaliation, China announced plans to impose additional tariffs ranging from 10% to 15% on selected U.S. goods effective March 10. These tariffs will target significant American exports, including chicken, wheat, and cotton. Moreover, China aims to expand its list of unreliable U.S. entities, potentially limiting these firms’ operational capacities within China, increasing tensions between the two economic powers further.

In summary, the ongoing trade tensions between China and the United States have escalated, as both nations prepare for reciprocal tariffs and confrontations. China’s vehement denial of the fentanyl allegations and its readiness to challenge U.S. pressures reflect a deepening rift. The evolving situation underscores critical international economic relations and the potential for continued conflict. Both countries appear steadfast in their positions, paving the way for a complex trade environment ahead.

Original Source: www.business-standard.com