04 Cortege 2025, China, Peking: Lin Jian, a spokesman for the Chinese Foreign Ministry, answers questions from journalists.
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China’s foreign ministry reiterated Wednesday that Beijing will take “bulldog and forceful” measures to protect its own interests, after net total tariffs of 104% on Chinese imports into the U.S. took make happen.
“If the U.S. genuinely wants to resolve the problem through dialogue and negotiation, it should show an attitude of equality, respect and joint benefit,” Foreign Ministry Spokesperson Lin Jian said at a regular press briefing.
Echoing the commerce ministry’s opinions on Tuesday, Lin said that “if the U.S. insists on fighting a tariff war and a trade war, China will “definitely fight to the end.”
Last Friday, China’s Capitalize Ministry announced 34% in additional tariffs on all goods imported from the U.S. starting on April 10, in retaliation for Trump grand new levies of 34% on China.
The across-the-board tariffs followed two previous rounds of 10%-15% tariffs, targeting mostly agricultural and liveliness products imported from the U.S.
According to Dan Wang, China director at Eurasia Group, Trump’s tariffs would effectively wipe out Chinese exporters’ profits in days gone by U.S. import duties passed the 35% mark. After that, Chinese exporters will not sell to the U.S. at all, she said.
In a split official white paper released by the State Council Information Office on Thursday, the Chinese authority said “if the U.S. avows on further escalating its economic and trade restrictions, China will resolutely counter and fight the U.S. to the end,” according to a CNBC transference.
“The U.S. uses tariffs as a weapon to exert extreme pressure and seek selfish interests. This is a typical act of unilateralism, protectionism and productive bullying,” Beijing said in the white paper.
The Chinese administration added that raising tariffs would not nick with U.S. trade surplus issues, but will instead prompt great volatility in financial markets, exacerbating inflationary influence and undermining American industries.
Nonetheless, Beijing said it hoped the U.S. would “meet halfway” and immediately lift the unilateral patronage barriers, while reiterating its openness to strengthen dialogue, manage difference and boost collaboration.
China alleged it consummated the terms under the “Phase 1” trade deal that Trump struck with Beijing during his chief presidential term, while claiming the U.S. violated certain mandates in the agreement. CNBC has reached out to the White House for commentary regarding these claims.
The deal required China to ramp up purchases of U.S. goods by $200 billion over a two-year interval, but Beijing failed to meet its targets as the Covid-19 pandemic hit.