These are the latest measures yet, taken by the Chinese government in order to counter the US ‘unilateral tariff hikes.’
Recently, the United States started imposing tariffs on all its trading partners including China under various pretexts. This, according to many, severely infringes upon the legitimate rights and interests of all countries; severely undermining the rules-based multilateral trading system while also severely disrupting the global economic order. The Chinese government strongly condemns this move and resolutely opposes it.
Yesterday, Thursday, the Embassy of the People’s Republic of China in The Gambia convened a press briefing to update the public on the newly introduced Chinese Government’s Position on Opposing U.S. Abuse of Tariffs.
At the event, Zhao Shangsen, Chargé d’Affaires of the Chinese Embassy, informed that six hours before the press briefing, China raised additional tariffs on all goods imported from the United States to 84 percent, and has added 18 US entities to China’s export control and unreliable entity lists. These are the latest measures yet, taken by the Chinese Government in order to counter the US' unilateral tariff hikes.
He made it clear that, China did not start this confrontation and that they don’t necessarily want to retaliate.
“We do not trade or tariff wars. We Chinese are not troublemakers, but we will not flinch when trouble comes our way,” he stated. “Intimidation, threat and blackmail are not the right way to engage with China. We will not let anyone take away the Chinese People’s legitimate right to development. We will not tolerate any attempt to harm China’s sovereignty, security and development interests. Judging from its action, the US doesn’t seem to be serious about having talks right now.”
The Chinese diplomat maintained that ‘if the US decides not to care about the interest of the US itself’, China and the rest of the world and is determined to fight a tariff/trade war, China’s response will continue to the end.
Regarding this unilateral move, he said, the United States defies the fundamental laws of economics and market principles, disregards the balanced outcomes achieved through multilateral trade negotiations, ignores the fact that the US has long benefited substantially from international trade, and weaponises tariffs to exert maximum pressure for selfish interest.
“It attempts to exploit tariffs to subvert the existing international economic and trade order, put US interest above the common good of the international community and advance US hegemonic ambitions at the cost of the legitimate interests of all countries. As the second largest economy and the second largest market for consumer goods, China is committed to opening ever wider to the world, no matter how the international situation changes.”
He added: “Economic globalization is the only way to human progress. The world will not and should not, return to the mutual isolation or fragmentation. The whole world aspires for a win-win cooperation. Economic bullying that shifts risks onto others will ultimately backfire. Making economic globalization more open, inclusive, balanced and beneficial to all is a shared responsibility of the international community.”
He added that development is an inalienable right of all countries, not the exclusive privilege of a few, adding that international affairs should be addressed through consultation and the future of the world should be decided by all countries.
“There are no winners in trade or tariff wars. Protectionism is a dead end. We are confident that the vast majority of countries, committed to fairness and justice, will stand on the right side of history and act in their best interest.”
The Chinese diplomat further called on all to embrace fairness and reject hegemonism, saying China stands ready to work with all parties to uphold true multilateralism, jointly oppose various forms of unilateralism and protection, diffuse risk, address challenges and promote a universally beneficial and inclusive economic globalization.
