China's Strong Response to US Tariffs: A Call for Fair Trade Practices

China Criticizes US Tariff Policies

Beijing: Guo Jiakun, spokesperson for China's Foreign Ministry, shared a post on Facebook displaying a screenshot of the Dow Jones, S&P 500, and Nasdaq, all experiencing declines exceeding 5% on Friday, along with the remark, 'The market has spoken.'

Guo criticized the US for initiating a trade and tariff conflict, labeling it as unprovoked and unjustified. He urged the US to cease its detrimental actions and resolve trade disputes through equitable discussions.

The significant increase in tariffs by US President Donald Trump has escalated the trade conflict, resulting in a sharp downturn in global markets.

On Friday, the S&P 500 dropped by 6%, the Dow Jones Industrial Average fell by 5.5%, and the Nasdaq composite decreased by 5.8%.

In retaliation, China announced plans to impose a 34% tax on all US imports starting next week, part of a series of countermeasures against Trump's tariffs.

China intensified its criticism of US tariffs, asserting that they have severely violated the legitimate rights of all nations, breached World Trade Organization regulations, and disrupted the global economic order.

The Chinese government, through a statement reported by Xinhua News Agency, accused the US of using tariffs as a tool for economic coercion and unilateralism, describing it as an act of protectionism and economic bullying.

The statement emphasized that while China does not seek conflict, it will not shy away from it. It reiterated China's commitment to safeguarding its sovereignty and development interests.

China expressed its intention to continue promoting an open economy rather than resorting to higher tariffs, asserting that economic globalization is essential for human progress.