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On April 2, US President Donald Trump announced reciprocal tariffs on 180 countries across the world, including China and India. Since then, there has been an atmosphere of turmoil in the global market.
Threat of imposing 50 percent more tariff
China got furious due to Trump's tariff. It also announced to impose a retaliatory 34 percent tariff on American goods. Trump is angry with this. He threatened to impose an additional 50 percent tariff on China. On the other hand, China has also sent a direct message to America. The tariff war between the world's two largest economies has increased the sound of global recession.
We will fight till the end: China
China's Commerce Ministry has said that it will fight against US tariffs till the end. The ministry spokesperson said that threatening to impose more tariffs on China would be adding to the mistake. This will expose America's blackmailing nature. China will never accept this. If America forces us to follow its way, China will fight it till the end.
China will take retaliatory measures
The spokesperson further said that if the US increases the tariff rate, China will take countermeasures to safeguard its rights and interests. The Chinese Commerce Ministry said that it wants to negotiate with the US. There are no winners in a trade war.
will not bow down to any pressure
China's stance on America is very tough. The Chinese Foreign Ministry said that China will not bow down to US pressure under any circumstances. China's Foreign Ministry spokesman Lin Jian said that America is bypassing international rules.
Learn about the case in detail
On April 2, Trump imposed a 34 percent tariff on China. Even before this, a 20 percent tariff has been imposed. Overall, America has imposed a 54 percent tariff on Chinese goods so far. Within 48 hours of Trump's tariff announcement, China gave a befitting reply to America. It also announced a 34 percent tariff on American goods.
Trump is angry with this move of China. On Monday, Trump in his new threat said that if Beijing does not remove its retaliatory tariffs by Tuesday, then 50% additional tariffs will be imposed on Chinese imports this week. Trump said that all meetings with China will also be cancelled.
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