BEIJING: China has strongly rejected the additional tariffs imposed by US President Donald Trump, calling on Washington for “equal-footed consultation” following a dramatic market reaction to the trade levies. A series of retaliatory measures were introduced by China, including a 34% tariff on US goods and export restrictions on rare earths, escalating the ongoing trade war between the world’s two largest economies.
Chinese foreign ministry spokesperson Guo Jiakun emphasized that “the market has spoken,” referencing the sharp declines in global stock markets, particularly in the US, following Trump’s tariffs and comments. Guo urged the US to “stop doing the wrong things” and resolve differences with trading partners through fair dialogue.
Several Chinese commerce associations also voiced concerns, warning that the tariffs would worsen inflation in the US and harm global trade. The S&P 500 experienced a 9% drop over the week, marking its biggest loss since the pandemic.
As tensions rise, China’s trade representatives are calling for unity within various industries, including healthcare, textiles, and electronics, to explore alternative markets.
Read more: China Announces Countermeasures Against US Tariffs, Escalating Trade War
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