China Declares Readiness to Engage in Trade Conflict with U.S.
China has declared its readiness to engage in “any type of war” with the U.S. as economic pressures from President Trump’s latest tariffs intensify. China retaliated with additional tariffs on U.S. imports, raising tensions further amidst assertions that it will not accept U.S. domination. The final outcomes will depend on China’s policy discussions scheduled to unfold in the coming days.
China has expressed its readiness to engage in “any type of war” with the United States, amid mounting economic and political pressure from President Donald Trump. The Chinese Embassy in the U.S. declared, “If war is what the U.S. wants, be it a tariff war, a trade war or any other type of war, we’re ready to fight till the end,” showcasing a more aggressive posture towards the U.S. Furthermore, a foreign ministry spokesperson described the U.S.’s justification for imposing tariffs as a “flimsy excuse,” challenging the motives behind U.S. actions.
Following the imposition of an additional 10% tariff on Chinese imports, which raised cumulative tariffs to 20%, China swiftly retaliated with its own tariffs on certain U.S. goods. Announced on Tuesday, these tariffs range as high as 15% and will commence on March 10. Alongside this, China is imposing a series of export restrictions targeting specific U.S. entities, signaling its resolve to protect its interests.
Lou Qinjian, a spokesperson for the third session of the 14th National People’s Congress, emphasized that while disagreements with the U.S. are anticipated, China will not succumb to pressure or threats. In response to previous U.S. tariffs, China had already elevated duties on select U.S. energy imports and placed two U.S. firms on a list of unreliable entities, which complicates their business operations in China.
As a result of Trump’s actions, the average effective U.S. tariff rate on Chinese goods is projected to reach 33%, a significant increase from approximately 13% at the beginning of Trump’s current term. This marks a notable escalation in trade tensions between the two nations. Additionally, China’s major political summit began on Tuesday in Beijing, where the government is set to outline its key economic targets for 2025 and unveil its economic plans for the year, concluding on March 11.
In summary, China is poised to contest U.S. tariffs and pressures with a determined stance, asserting its readiness to engage in various forms of conflict. The economic exchange between the two nations is becoming increasingly fraught, with significant tariff increases and retaliatory measures. As both countries navigate this tense relationship, the outcomes of China’s upcoming political discussions may further influence their economic strategies moving forward.
Original Source: www.cnbc.com
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