China has said that it will not back down against the increase in tariffs imposed by the US on it. With the implementation of 125 percent tariff rate on Chinese imports, Beijing has warned that the American tariff “will go against the whole world.”
Addressing Trump’s 90-day ban on all tariffs except China, Foreign Ministry spokesman Lynn Gian said that American tariffs “severely damage the rules-based multilateral trade system, and severely affect the stability of the global economic system.”
The ministry said, “This is a clear task that is against the will of the world and against the whole world.” Chinese Commerce Ministry spokesman Hey Yongkian also urged the US to meet Beijing on a “halfway” to stop the growing trade war and vowed to “fight to the end” if the agreement could not be reached.
Yongkian said, “The door of the conversation is open, but it should be based on mutual respect and should be operated in an equal way.” He said that if America “is adamant on working in its own way, Beijing will not back down.”
China’s tariffs, which were again increased from 104% to 125%, have come between Trump’s new business policy, which has led to the global trade war. While the country is standing in queue to talk to US President Trump. Trump has also said that China “wants to compromise, but does not know how to do it.” Meanwhile, the Trump administration has said that interactions with Japan, South Korea, India, Vietnam and other countries will be given priority.
