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Beijing is escalating its rhetoric in response to a new wave of US tariffs. On Monday, the Chinese Ministry of Commerce accused Washington of “abusing customs instruments” and warned other countries that any agreement with the United States to the detriment of China would receive a tough response, Bloomberg reports.
The announcement comes amid a Bloomberg report claiming that the Donald Trump administration is pressuring countries seeking customs exemptions to reduce trade with China under the threat of sanctions. China remains the only country subject to maximum US duties of up to 145%.
In response, Beijing imposed mirror duties on US goods of up to 125% and announced the convening of the UN Security Council to accuse the US of “global economic destabilisation”.
Dozens of countries, from Indonesia to Japan, are under pressure as they balance between the two economic giants. Economists warn: “There are no winners in a trade war.”
