China has issued a strong statement against US President Donald Trump’s intention to impose an additional 50% duty on imports of Chinese goods. The Chinese Ministry of Commerce condemned this policy as “blackmail” and promised tough countermeasures. This was reported by CNN and BBC.
“The US threat to escalate the customs war is a mistake after another, which once again demonstrates the blackmailing nature of Washington. China will not accept this. If the US continues on this course, we will fight to the end,” the ministry said.
Beijing also stressed that “neither side will benefit from a trade war” and that “pressure and threats are not methods of dialogue with China”. The Chinese authorities called on the White House to cancel “illegal and unilateral tariffs”, end China’s economic containment, and return to “equal dialogue based on mutual respect”.
Following Trump’s statements and the escalation of tensions in the tariff market, European stock exchanges recorded a drop in quotations for the fourth day in a row. Investors are selling assets en masse, fearing a new round of global trade tensions.
