China is considering a response to the 10% US tariff: agricultural products and food are in the crosshairs
3 March 12:05
China is studying and formulating countermeasures in response to the US threat to impose an additional 10 percent duty on Chinese goods under the pretext of fighting fentanyl. This was reported by the Chinese edition of the Global Times, known for its proximity to the Communist Party of China, Komersant ukrainskyi informs.
The countermeasures are likely to include both tariffs and a range of non-tariff measures, and US agricultural and food products are likely to be included in the list, according to a source who spoke on condition of anonymity.
“If the U.S. insists on imposing unilateral tariffs and officially announces retaliatory measures, China will definitely take strong, powerful countermeasures,” the source said,
– the source emphasized.
In a post on social media on Thursday, US President Donald Trump said that the US would impose tariffs on Canada and Mexico starting March 4, and that
“China will also be assessed an additional 10% duty on that day.”
This US threat immediately provoked strong resistance from several Chinese ministries. Asked to comment on the US plan, a spokesperson for the Chinese Ministry of Commerce said on Friday that China is one of the strictest countries in the world in terms of fighting drugs, both in terms of policy and implementation. China has international cooperation with other countries, including the United States, in the fight against drugs.
Shifting the blame to other countries will not help solve the US’s own problem, but rather may increase the burden on US businesses and consumers and harm the stability of the global industrial chain, the spokesman said.
“China hopes that the United States will not repeat its mistakes and quickly return to the right path of resolving differences through fair dialog. If the United States insists on pursuing its own course, China will take all necessary countermeasures to protect its legitimate rights and interests,”
– said the spokesman.
Also commenting on the US threat of additional tariffs on Friday, Lin Jian, spokesperson for the Chinese Ministry of Foreign Affairs, said that China condemns and categorically opposes this move and will take necessary measures to resolutely defend its legitimate interests.
“If the United States continues to use the fentanyl issue to pressure, blackmail, coerce and threaten China, it will only backfire and deal a blow to the China-US drug control dialogue and cooperation,” Lin said,
– lin said at a regular briefing.
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Trump’s trade wars
Donald Trump’s administration has been imposing trade restrictions not only on China but also on Mexico and Canada, the two other largest trading partners of the United States.
These measures have caused concern among U.S. companies that depend on metal imports from Canada and Mexico. They are expected to look for alternative sources of supply, particularly in the Middle East, India, Chile, and Peru, which could lead to higher prices for aluminum and copper in the United States.
In addition, Canadian consumers reacted to the imposition of the duties by boycotting American goods, canceling trips to the United States and refusing to buy American alcohol.
After talks with the leaders of these countries, President Trump agreed to postpone the imposition of duties on Mexico and Canada for 30 days, but this deadline expires on March 4.
Economists warn that such trade disputes could slow global economic growth and cause inflation. Earlier, stock markets in the Gulf countries reacted with a decline due to fears of a possible trade conflict. The cryptocurrency market also collapsed earlier.
