Chinese Foreign Ministry spokeswoman Mao Ning Photo: AP
China has reacted sharply to the introduction of new tariffs by the United States, calling them a gross violation of international trade rules. Beijing has promised to file a complaint with the International Trade Organisation (ITO) and said it would introduce countermeasures in response. At the same time, the Chinese authorities have made it clear that they are ready for negotiations to avoid further escalation of the conflict, Reuters reports.
Beijing accuses Washington of violating international norms
China’s Ministry of Finance and Ministry of Commerce said that Donald Trump’s decision to impose a 10% duty on Chinese imports is a “serious violation of international trade rules” and called on the White House to “engage in sincere dialogue and strengthen cooperation”.
China has announced an appeal to the WTO, but this measure is more symbolic, given Beijing’s similar actions against the EU over duties on Chinese electric vehicles.
Trump hits China, Canada and Mexico
The new US duties affected not only China, but also Canada and Mexico, with a 25% import duty imposed on them. The US president explained his decision by the need to “stop the flow of fentanyl,” a deadly opioid that Washington says is coming from China.
Fentanyl is the main point of conflict
China’s harshest reaction was to this very issue. Beijing rejected the accusations, stressing that the Joe Biden administration had put pressure on China to restrict the export of chemical precursors used to produce fentanyl.
“There are no winners in a trade war,” said Chinese Foreign Ministry spokesperson Mao Ning, warning that unilateral US actions could seriously damage bilateral relations.
China is preparing retaliatory measures, but has not yet disclosed which US goods will be subject to duties.
The trade war between the US and China could escalate, which could affect global markets.
Prospects for economic dialogue remain unclear as Washington increases pressure on Beijing.
If the parties do not reach a compromise, a new round of trade confrontation could lead to a significant weakening of the global economy and destabilisation of international trade.
