CHINA has warned its allies against entering wider economic agreements with Washington at its expense.
Beijing’s Commerce Ministry issued the warning on Monday, April 21, as it accused the US of misusing tariffs, noting that Beijing would firmly oppose any party striking a deal at China’s expense and “will take countermeasures in a resolute and reciprocal manner.”
The ministry was reacting to a Bloomberg report which said the Trump administration was planning to pressure countries seeking tariff relief or exemptions from the US to scale back trade with China, potentially including monetary penalties.
“The United States has abused tariffs on all trading partners under the banner of so-called ‘equivalence’, while also forcing all parties to start so-called ‘reciprocal tariffs’ negotiations with them,” the ministry said.
The ministry vowed that China was resolute and capable of protecting its rights and interests, and expressed its willingness to strengthen solidarity and cooperation with all parties.
Taking a hardline approach, Beijing also announced plans to hold an informal United Nations Security Council meeting this week to accuse Washington of bullying and of “casting a shadow over global efforts for peace and development” through the weaponisation of tariffs.
The ICIR reported that US President Donald Trump suspended the broad tariffs he announced on over 50 countries on April 2, except those on China, singling out the world’s second-largest economy for the heaviest duties.
In a series of moves, Washington increased tariffs on Chinese imports to 145 per cent, prompting Beijing to impose retaliatory duties of 125 per cent on US goods. However, last week, China indicated that it would not further raise its overall tariff rates.
Earlier this month, US Trade Representative Jamieson Greer revealed that nearly 50 countries had reached out to him to discuss the significant additional tariffs imposed by Trump.
Several bilateral discussions on tariffs have taken place since Trump’s announcement, with Japan reportedly considering increasing its imports of soybeans and rice as part of its negotiations with the US, while Indonesia plans to boost imports of American food and commodities, potentially cutting back on purchases from other countries.
Trump’s tariff policies have unsettled financial markets. Investors are worried that major disruptions to global trade could push the world economy into a recession.
The Trump administration has also been working to hinder Beijing’s advancement in developing semiconductor chips, citing concerns that they could be used for military purposes.
Last week, it further targeted China’s shipbuilding industry by imposing port fees on vessels built in China, aiming to curb the country’s dominance in the sector.
On Monday, Chinese stocks edged up slightly, showing a minimal response to the commerce ministry’s remarks.
However, investors have largely remained wary of Chinese assets amid mounting concerns over slowing economic growth.
The ICIR reported that China suspended all liquefied natural gas (LNG) imports from the US for over 10 weeks in response to Trump’s tariffs.
Nanji is an investigative journalist with the ICIR. She has years of experience in reporting and broadcasting human angle stories, gender inequalities, minority stories, and human rights issues.