China has announced it will impose a 34 per cent tariff on imported American goods in addition to existing tariffs in response to the United States’ move to impose its 34 per cent tariffs on Chinese imports, marking the latest escalation in trade tensions between the world’s two largest economies.
On Thursday morning, China’s Ministry of Commerce issued a statement condemning the US’ sweeping new tariff regime as threatening the hard-won balance achieved through years of multilateral trade negotiations.
“This is a typical act of unilateral bullying,” the ministry said, urging Washington to “immediately” remove the tariffs and resolve any disputes through “fair and equal dialogue” with its trade partners.
