China has threatened to carry out “resolute counter measures” against the threat of additional 50% tariff on Chinese imports by the US President Donald Trump as Beijing said that it was “to safeguard its own rights and interests”.
China’s Commerce Ministry in a statement said that US‘ imposition of “so-called ‘reciprocal tariffs’ on China is completely groundless and is a typical unilateral bullying practice,” Associated Press reported.
President Trump threatened additional tariffs on China on Monday as the latter had announced its own reciprocal tariffs of 34% on US goods, to be implemented from April 10 in response to the tariffs announced by the US president on all its global trading partners.
Financial markets across the world faced the heat of a trade war touched off by US President Trump in order to rebalance the global economy, as investors speculate that trade barriers via tariffs around world’s largest consumer markets could lead the economies to recession.
Threatening to impose additional tariffs on Beijing, Trump posted on Truth Social saying “If China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th.”
China’s Commerce Ministry stated that its counter measures are aimed at safeguarding its sovereignty, security and development interests and maintaining the equilibrium of the international trade order.
Calling the counter measures “completely legitimate”, Beijing said “The US threat to escalate tariffs on China is a mistake on top of a mistake and once again exposes the blackmailing nature of the US. China will never accept this. If the US insists on its own way, China will fight to the end,” AP reported.
Story continues below this ad
The stock markets have plunged across the globe and has wiped out more than $10 trillion off major markets.
© IE Online Media Services Pvt Ltd
