Chinese state media warns that U.S. Tariffs will cause significant damage to the U.S. Economy as other countries retaliate with “high tariffs”, on American products. Beijing is likely to take more measures as another wave of levies approaches.
In less than two months since returning to the White House in January, Donald Trump has already triggered trade disputes with China, Canada, and Mexico. The European Union is also on the list. Trump has also threatened to impose reciprocal tariffs against every country that taxes U.S. imported goods. These levies could kick in as early as April 2.
China responded quickly with countermeasures when the two rounds of Trump’s tariffs went into effect in February and March. Beijing is expected to react quickly to any April tariffs that may be implemented.
In an editorial published on Tuesday, the Chinese nationalist tabloid Global Times stated that its trading partners would not stand by as the U.S. imposed tariffs.
Many countries could choose to retaliate by imposing high tariffs on U.S. imports.
Beijing imposed retaliatory duties on U.S. agricultural and food exports. It also placed restrictions on exports and investments for 25 U.S. companies, suspended the soybean import licenses from three U.S. companies, and stopped imports of U.S. logging.
China has also begun an investigation into certain U.S. fiber optic products.
According to Yuyuan Tantian on Monday, an account of state broadcaster CCTV affiliated with social media, the commerce ministry in China will take several measures to assist foreign companies in China to resist “external surprises” and expand their sales in the nation.
Global Times reported, “Many countries are actively trying to diversify their partnerships in the economy and reduce their dependence on the U.S., by forging new trading alliances.”