Blitz Bureau
China has vowed to hit back after President Donald Trump announced major new tariffs on its exports to the United States as part of his radical overhaul of a century of American global trade policy, reports CNN.
Trump unveiled 54 per cent tariffs on all Chinese imports into the US on April 2, in a move poised to push a major reset of relations and escalate a trade war between the world’s two largest economies.
“China firmly opposes this and will resolutely take countermeasures to safeguard its own rights and interests,” China’s Ministry of Commerce said in a statement.
The ministry slammed the move that stands as a centerpiece in Trump’s effort to reshape the rules of international trade as “typical unilateral bullying practice,” while urging the US to cancel the tariffs and “properly resolve differences with its trading partners through equal dialogue.”
“The United States has drawn the so-called ‘reciprocal tariffs’ based on subjective and unilateral assessments, which is inconsistent with international trade rules and seriously damages the legitimate rights and interests of relevant parties,” the statement said.
Trump’s announcement adds 34 per cent so-called “reciprocal” tariffs to existing 20 per cent duties on all Chinese imports to the US. Since returning to power in January, Trump had already levied two tranches of 10 per cent additional duties on all Chinese imports, which the White House said was necessary to stem the flow of illicit fentanyl from the country to the US.