China has strongly opposed the latest US tariffs on its exports, warning of countermeasures to protect its economy.
On Thursday, China’s commerce ministry condemned the 34 percent tariffs imposed by US President Donald Trump, calling them “unfair and harmful” to international trade.
In a statement, the ministry said, “These tariffs do not comply with international trade rules and seriously harm the legitimate rights and interests of the relevant parties.”
It urged Washington to cancel the tariffs, warning that they “endanger global economic development” and affect US businesses and supply chains.
The new tariffs come after an earlier 20 percent tariff imposed by the US last month. China has responded in the past with levies of up to 15 percent on US agricultural products like soybeans, pork, and chicken.
At a weekly briefing, China’s commerce ministry criticized the US for “protectionism and bullying” but also confirmed that both countries were still in talks.
China’s foreign ministry also warned that “protectionism has no exit ramp”, pointing out that many countries oppose the US decision.
Chinese economist Chen Wenling from the China Center for International Economic Exchanges suggested that China might restrict exports of rare minerals to the US.
“The United States has become a high-tariff nation, and its role as a leader in free trade is declining,” Chen said.
The US tariffs could hurt China’s economy, which is already struggling with debt in the property sector and low consumer spending.
China warned that trade conflicts only harm both sides.
“There is no winner in a trade war, and protectionism is not the solution,” Beijing stated.
It also argued that the US has benefited from international trade for years and accused Washington of using “reciprocity” as an excuse for tariffs.
The US has also imposed 25 percent tariffs on steel and aluminium imports, affecting global markets.
Despite the tensions, China says it remains open to dialogue to resolve the dispute.
