Newly Imposed Chinese Tariffs on US Imports
by Stephen Lendman (stephenlendman.org - Home - Stephen Lendman)
Effective Monday, Chinese tariffs up to 25% were imposed on 128 US products, including fruits and pork.
A State Council Customs Tariff Commission statement said:
“In order to protect China’s interests and balance the losses caused by the United States’ imposed tariffs on imported steel and aluminum products to China’s interests, the Customs Tariff Commission of the State Council has decided to suspend duty concessions on certain imported products originating in the United States.”
China’s Commerce Ministry accused Washington of “economic intimidation,” threatening legal action through the World Trade Organization (WTO), while urging the US to “pull back from the brink, make prudent decisions, and avoid dragging bilateral trade relations to a dangerous place.”
Analysts believe Beijing will impose further tariffs if Trump follows through on targeting up to $60 billion worth of Chinese imports into America - so far only responding to US tariffs on Chinese steel and aluminum.
According to China’s Global Times (GT), Beijing’s response shows it “will never compromise as it will always retaliate against unreasonably imposed tariffs,” adding:
“(I)t is time for Washington to bid farewell to the fantasy it has long been living in, a delusional world of make-believe whereby it imagines China as an unresponsive nation and tolerant toward US tariffs.”
“China does not want a trade war, but it will not retreat should one emerge. Today’s announcement is hardly a subtle intimation. Instead, China will show its strength through action as they are on the defensive due to their current level of confidence required to take on all challenges.”
“Carrying out illogical tricks with provocation as the end goal will experience the same degree of firm countermeasures.”
GT accused the Trump administration of making unreasonable demands, trying to coerce China into compromising its interests.
A list of retaliating tariffs was compiled, including on major Chinese imports from America, GT saying:
Imposition “will deal a heavy blow to Washington that aggressively wields the stick of trade war and will make the US pay a price for its radical trade policy toward China.”
Beijing’s Ministry of Commerce spokesperson warned “if a trade war were initiated by the US, (it’ll be fought) to the end.”
Trump’s rashness risks a trade war between the world’s two largest economies, assuring losers, not winners, likely harming global economic conditions.
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