China has vowed to take countermeasures against the US after President Donald Trump announced his so-called reciprocal tariffs.
Trump unveiled 54% tariffs on all Chinese imports into the United States as part of his sweeping “Liberation Day” reset of American trade global policy.
Trump’s announcement adds 34% so-called “reciprocal” tariffs to existing 20% duties on all Chinese imports to the US.
Since returning to power in January, Trump had already levied two tranches of 10% additional levies on all Chinese imports, which the White House said was necessary to stem the flow of illicit fentanyl from the country to the US.
China’s Ministry of Commerce said in a statement, “China firmly opposes this and will resolutely take countermeasures to safeguard its own rights and interests.”
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.”
China’s Ministry of Commerce
A Commerce Ministry spokesperson stated that the tariffs disregard “the balance of interests achieved in multilateral trade negotiations over the years and the fact that the United States has long benefited greatly from international trade.”
Several countries have signaled that they will respond to Trump’s tariffs, and the International Chamber of Commerce said that there’s “a clear systemic risk to the global trading system” if trade tensions reach a fever pitch.
Mexican President, Claudia Sheinbaum said that she will unveil a broad economic plan on Thursday in response to Trump’s tariffs, which will include steps to protect the country’s automotive industry.
Various European leaders chimed in after Trump’s announcement, also pledging to respond after they study what the new tariffs will mean for their countries.
Karin Keller-Sutter, President of the Swiss Federation, posted on X that the country’s officials “will quickly determine the next steps.”
Canada and the EU, also top trade partners, are preparing countermeasures.
European Commission President, Ursula von der Leyen, noted that Trump’s announcement of “universal tariffs on the whole world including the European Union” is a major blow to the world economy.
She expressed deep regret, stating the tariffs would be felt “immediately.”
“Let’s be clear-eyed about the immense consequences. The global economy will massively suffer. Uncertainty will spiral and trigger the rise of further protectionism.”
Ursula von der Leyen
She added that while the European Union would prefer to work with the US to reduce trade barriers, “Europe is ready to respond.”
“We are already finalizing the first package of countermeasures in response to tariffs on steel, and we are now preparing for further countermeasures to protect our interests and our businesses if negotiations fail.”
Ursula von der Leyen
Treasury Secretary Cautions Against Swift Reaction To Trump’s Tariff
Meanwhile, US Treasury Secretary, Scott Bessent, in an interview, cautioned any countries who are planning to swiftly react to President Donald Trump’s tariff plans, saying, “Sit back, take a deep breath, don’t immediately retaliate.” He added, “Let’s see where this goes, because if you retaliate, that’s how we get escalation.”
“A trade war depends on the country. But remember that the history of trade is we are the deficit country. The deficit country has an advantage. They are the surplus countries. The surplus countries traditionally, always lose any kind of trade escalation.
“As a student of economic history or a Professor of economic history, I’d advise against it.”
Scott Bessent
Bessent cautioned other countries that “doing anything rash would be unwise.”
He also suggested that the tariffs might not be permanent, stating that he believes the Trump administration is going to “wait and see how this plays out.”
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