Lagatar24 Desk
New Delhi: The trade tensions between China and the United States have intensified sharply as Beijing on Friday announced raising tariffs on US goods to 125%, up from the previous 84%. This decision comes in response to President Donald Trump increasing tariffs on Chinese imports to 145% earlier this week.
China Justifies Tariff Hike On US Goods
China’s Finance Ministry said that the recent US tariff hikes have turned into a meaningless numbers game without any economic relevance. The ministry asserted that further tariff actions from the US would be ignored as the Chinese market cannot absorb US goods at such inflated prices.
“The United States’ imposition of round upon round of abnormally high tariffs on China has become a numbers game with no practical significance in economics,” said the ministry spokesperson.
Beijing Blames US For Global Economic Turbulence
Beijing also blamed the US for the recent shocks to the global economy and trading systems. According to China, the continuous tariff hikes by Washington have caused severe turbulence in global markets.
“The US should bear full responsibility for the current world economy, global markets and multilateral trading systems suffering serious shocks and turbulence,” said the spokesperson.
China Claims Pressure Forced US Tariff Pause For Other Nations
China further claimed that President Trump’s decision to temporarily pause tariffs on other countries for 90 days was due to pressure from Beijing itself.
Trump had announced that tariffs on countries other than China would be suspended for 90 days, but warned that if trade deals were not reached, tariffs would be reimposed.
Xi Jinping Urges Europe To Stand With China Against US
During a meeting with Spanish Prime Minister Pedro Sanchez, Chinese President Xi Jinping urged European nations to join China in resisting US unilateralism.
“China and Europe should fulfil their international responsibilities and jointly resist unilateral bullying practices,” Xi said.
He further stated that collaboration between China and Europe would help safeguard international fairness, justice, and the legitimate interests of affected nations.
Trump Remains Hopeful Of Deal With China
Despite the ongoing trade war escalation, President Trump praised Xi Jinping, calling him a smart leader who knows exactly what needs to be done.
“I think he’s going to want to make a deal. I think that’s going to happen. We’ll get a phone call at some point, and everything will be ready,” Trump said.
He expressed hope that any future deal would be beneficial not only for the US and China but also for the global economy.
