Beijing describes Trump tariffs as ‘economic bullying’
(MENAFN) China has condemned the recent US decision to impose new tariffs on Chinese exports, calling it "economic bullying" and warning that it could destabilize the global economy and worsen trade tensions. Chinese Foreign Ministry spokesperson Lin Jian criticized the US move to increase tariffs by 34% on Chinese goods, bringing the total duty to at least 54%. He labeled the action as "unilateralism, protectionism, and economic bullying," which, according to him, severely undermines global economic stability.
In response, China's Finance Ministry announced it would impose a matching 34% tariff on all US products starting April 10 and has filed a complaint with the World Trade Organization (WTO). The trade conflict has already led to significant volatility in financial markets, with stocks across Europe, the US, and Asia dropping. Some economists, including those at Goldman Sachs, have raised concerns that this trade dispute could lead to a global recession, increasing the likelihood of an economic downturn in the US.
An editorial in China’s Global Times stated that the US is mismanaging its domestic economic issues, particularly its manufacturing competitiveness, and using tariffs as a diversion rather than implementing necessary reforms. Beijing's countermeasures are intended to show its firm stance against what it calls the US’s "reckless violation" of global trade rules. Analysts warn that the escalating tariffs could disrupt global supply chains, drive up consumer prices, and hinder worldwide economic growth.
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