The escalation between the US and China in the tariff war does not stop. Beijing has just responded to Donald Trump by increasing its tariffs on "Made in USA" goods from 34% to 84%, effective from 12:00 tomorrow.
And it promises to adopt all "firm and incisive" measures to protect its interests in response to the entry into force of the 104% American tariffs on imports of goods made in China , asserting "the legitimate right of the Chinese people to development" which "is inalienable". Foreign Ministry spokesman Lin Jian, in the daily briefing, added that "China's sovereignty, security and development interests are absolutely inviolable". Therefore, "we will continue to adopt firm and incisive measures to safeguard our legitimate rights and interests", the spokesman noted.
China also called on the US administration to immediately correct its wrong trade practices and cancel all unilateral tariff measures against Beijing, adequately resolving differences through equal dialogue based on mutual respect. In this regard, Trump said yesterday that he expected a phone call from China.
The reaction is a "defeat" for Beijing, commented US Treasury Secretary Scott Bessent. In an interview on Fox News' 'Mornings With Maria,' Bessent said that "it's a shame that the Chinese don't want to come and negotiate because they are the worst offenders in the international trading system. They have the most unbalanced economy in the history of the modern world."
" I can tell you that this escalation is a defeat for them, who have very smart economists, academics and technocrats within their bureaucracy, and they would tell the leadership that we are not ahead, " he added. "They are the surplus country, their exports to the United States are five times greater than our exports to China. So they can increase tariffs. But what about that?" he continued. "No one wins in a war. But it is a question of proportionality. And the proportionality for the Chinese will be much worse."
(Online Union)