China vows retaliation as US tariff threats escalate
China firmly opposes the threats by the United States to raise tariffs on Chinese goods by 50% and promises a decisive response, stated a spokesperson for the Ministry of Commerce in Beijing on Tuesday, calling President Donald Trump's decisions "a mistake upon a mistake."
In a statement published on the ministry's website, the spokesperson emphasised that any potential tariff increases by the U.S. represent "typical unilateral hegemonic actions." China believes that the American threats reveal a "nature of blackmail" and are unacceptable.
This is a reaction to President Donald Trump’s comments on Monday, where he threatened to impose additional 50% tariffs on Wednesday if Beijing does not retract its retaliatory tariffs of 34% on all U.S. goods announced by Chinese authorities on Friday. They are set to take effect on 10th April.
If the United States persists, China will stay the course till the end, stated the unnamed spokesperson for the ministry.
The spokesperson emphasised that the retaliatory measures taken by the PRC aimed to protect China's "sovereignty, security, and developmental interests" and maintain a normal international trade order.
The Communist authorities in Beijing called on Washington to "immediately correct its erroneous actions," remove all "unilateral tariffs" imposed on China, and cease economic and trade "repression" while resolving disputes through "equal dialogue based on mutual respect."
"There are no winners in a trade war"
- Pressure and threats are not the right ways to deal with China - repeated the spokesperson, adding that there are no winners in a trade war, and protectionism leads to nothing good.
If Trump were to carry out his threat and the new 50% tariff were added to those already announced, it would mean the basic rate for almost all goods from the PRC would be 104%.
