China Demands Immediate Cancellation of U.S. Tariffs: Promises Strong Counter-Measures

China’s Ministry of Commerce recently called on the U.S. to immediately remove its new tariffs, stating that the measures are unfair and go against international trade rules. This response follows U.S. President Donald Trump’s announcement of significant tariff increases, many of which are among the highest imposed in a century.

According to a spokesperson for the ministry, these actions are a form of "unilateral bullying," and other nations share this dissatisfaction. The U.S. has raised tariffs on various countries, with China facing a staggering 34% increase. This is in addition to an existing 20% tariff, pushing the total tariffs on U.S. imports from China to 54%. Such high rates haven’t been seen since the early 1900s, raising concerns about the impact on global economic growth.

Experts like Tai Hui from JPMorgan Asset Management warn that these tariff increases could have far-reaching effects. Stephen Olson, a senior fellow in Singapore, believes that while both countries may eventually negotiate a broader agreement, tensions will likely escalate before there’s any resolution.

Countries around the world are also voicing their concerns. Canadian Prime Minister Mark Carney promised strong counter-measures against these tariffs, while South Korea’s acting President Han Duck-soo announced emergency support for affected industries. Australia and Japan are also exploring their options, with Japan setting up a task force to evaluate the situation.

In fact, the Japanese auto industry faces significant challenges due to its heavy reliance on the U.S. market, especially with the 25% tariffs on imported vehicles already in effect. Thailand is also preparing to assist its manufacturers affected by new tariffs. Meanwhile, the European Union is gearing up for additional responses if negotiations with the U.S. do not lead to a more favorable outcome.

The global perception of these tariffs is largely negative. Analysts see potential for economic strain as these trade tensions unfold, and many nations are closely monitoring the situation.

You can read more on the latest developments from the European Union here EU’s Response.

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