Beijing said it will \u201cresolutely\u201d take countermeasures to safeguard its own interests after Trump threatened to impose a new 50% duty on Chinese goods.<\/p>\n
China\u00a0said Tuesday it will \u201cfight to the end\u201d if\u00a0President Donald Trump\u00a0imposes\u00a0an additional 50% tariff\u00a0on Chinese goods as many countries rush to negotiate trade with the United States.<\/p>\n
If the plan is fully implemented, the total tariffs on goods imported into the United States from China\u00a0would be as much as 104%. In response, the Chinese Commerce Ministry said China \u201cfirmly opposes\u201d Trump\u2019s tariff threats, calling its previous countermeasures \u201centirely justified.\u201d<\/p>\n
\u201cIf the U.S. insists on its own way, China will fight to the end,\u201d the ministry said in a statement Tuesday, adding that Trump\u2019s threat to escalate tariffs on China is a \u201cmistake upon a mistake.\u201d<\/p>\n
Trump\u00a0threatened\u00a0the\u00a0new 50% duty on China, effective Wednesday, if Beijing does not withdraw its 34% tariffs on all U.S. goods by Tuesday, which China imposed in retaliation for a 34% levy on Chinese goods the Trump administration announced last week.<\/p>\n
\u201cAdditionally, all talks with China concerning their requested meetings with us will be terminated!\u201d Trump wrote Monday on Truth Social. \u201cNegotiations with other countries, which have also requested meetings, will begin taking place immediately.\u201d<\/p>\n
Beijing\u2019s retaliatory tariffs are scheduled to take effect Thursday.<\/p>\n
\u201cI believe the actions of the U.S. side do not reflect a willingness to engage in serious dialogue,\u201d Lin Jian, a spokesperson for the Chinese Ministry of Foreign Affairs, said Tuesday at a regular briefing in Beijing.<\/p>\n
The U.S. should \u201cadopt an attitude of equality, respect and reciprocity\u201d if it \u201ctruly wants to negotiate,\u201d Lin said.<\/p>\n
The Commerce Ministry urged the United States to cancel all unilateral tariff measures against China and resolve trade disputes through dialogue.<\/p>\n
\u201cPressure and threats are not the correct way to deal with China,\u201d it said. \u201cChina reiterates that there are no winners in a trade war, and protectionism leads nowhere.\u201d<\/p>\n
\u201cChina will resolutely take countermeasures to safeguard its own interests,\u201d it added.<\/p>\n
Stocks in mainland China and Hong Kong rose Tuesday as Beijing scrambles to stabilize its markets amid panic over Trump\u2019s tariffs, with Chinese state-backed funds pledging to buy local stocks.<\/p>\n
The Hang Seng Index in Hong Kong had climbed about 1.5% at the close of trading on Tuesday, a day\u00a0<\/strong>after its biggest single-day decline in nearly three decades following China\u2019s tariff retaliation against the U.S. China\u2019s blue-chip CSI 300 Index closed up 1.7% after plummeting 7% on Monday.<\/p>\n State money is \u201cmore like a short-term stabilization gesture,\u201d said Gary Ng, senior economist for Natixis in Hong Kong. But it\u2019s \u201cunrealistic,\u201d he said, to expect China to inject state-owned funds into its stock market indefinitely if the trade war with the U.S. escalates.<\/p>\n China will hit back at Trump with the same 50% duties if he proceeds with his threat, said Andy Xie, an independent economist in Shanghai.<\/p>\n \u201cIf Trump wants to take you to hell, you take him with you,\u201d Xie said of China\u2019s possible response in a phone interview Tuesday.<\/p>\n Xie said he thinks Beijing has concluded that compromise will only lead to more pressure from Trump. \u201cChina cannot back down anymore,\u201d he said.<\/p>\n Trump\u2019s 50% tariff threat doesn\u2019t make a lot of difference, Xie added, as Chinese goods already face more than 70% in U.S. duties accumulated since Trump\u2019s first term.<\/p>\n China has decreased its dependence on the American market, with its exports to the U.S.\u00a0dropping to 14.7% in 2024, down from 19.2% in 2018 when Trump started a trade war with the world\u2019s second-largest economy, according to\u00a0the country\u2019s state-run People\u2019s Daily\u00a0newspaper.<\/p>\n \u201cChina [and] the United States will decouple. It\u2019s a matter of time,\u201d Xie said. \u201cYou have to bite the bullet.\u201d<\/p>\n Trump said Sunday that China could get a reduction in tariffs if it approves a deal to sell TikTok\u2019s U.S. operations. He\u00a0confirmed reports\u00a0that China and the United States had been \u201cpretty close\u201d to a deal over the video-sharing app but that Beijing backed out because of the new 34% U.S. tariff.<\/p>\n \u201cIf I gave a little cut in tariffs, they\u2019d approve that deal in 15 minutes, which shows you the power of tariffs,\u201d he told reporters on Air Force One.<\/p>\n However, the president seemed to backtrack on Monday, saying that he is\u00a0not looking to pause his tariffs on China\u00a0before they go into effect Wednesday, despite\u00a0turmoil in the stock market\u00a0and\u00a0global economic fears.<\/p>\n","protected":false},"excerpt":{"rendered":" Beijing said it will \u201cresolutely\u201d take countermeasures to safeguard its own interests after Trump threatened to impose a new 50% duty on Chinese goods. China\u00a0said Tuesday it will \u201cfight to the end\u201d if\u00a0President Donald Trump\u00a0imposes\u00a0an additional 50% tariff\u00a0on Chinese goods as many countries rush to negotiate trade with the United States. If the plan is […]<\/p>\n","protected":false},"author":1,"featured_media":6933,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[],"class_list":{"0":"post-6930","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-daily-news"},"_links":{"self":[{"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/posts\/6930"}],"collection":[{"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/comments?post=6930"}],"version-history":[{"count":1,"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/posts\/6930\/revisions"}],"predecessor-version":[{"id":6932,"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/posts\/6930\/revisions\/6932"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/media\/6933"}],"wp:attachment":[{"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/media?parent=6930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/categories?post=6930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailynewsintime.net\/index.php\/wp-json\/wp\/v2\/tags?post=6930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}