World

China has warned countries against entering into trade agreements with the US

China has warned other countries against concluding trade agreements with the United States, which could harm Beijing’s interests.

This is written by Bloomberg, reports "Komersant Ukrainian".

China’s Ministry of Commerce said it respects nations that resolve their trade disputes with the U.S., but Beijing “strongly opposes any party that reaches an agreement at the expense of China’s interests.”

If it does, Beijing “will never accept it and will resolutely take mutual countermeasures” the ministry added.

“China is ready to strengthen solidarity and coordination with all parties, jointly respond and resist unilateral intimidation,” the Ministry of Commerce said.

The warning came amid countries preparing for talks with the United States to seek reductions or exemptions from sweeping duties that President Donald Trump imposed and later suspended on about 60 trading partners. In exchange, Washington is forcing them to limit trade with China and curb Beijing’s manufacturing capacity to make sure China doesn’t find ways around the tariffs.

Bloomberg notes that Trump’s top economic advisers have discussed asking other countries to impose so-called “secondary tariffs” – monetary sanctions – on imports from countries that have close ties to China. Washington also wants trading partners to refrain from buying excess goods from China, according to the publication’s interlocutors.

What’s known about US-China duties
Beijing announced it would impose 34 percent duties on all US goods in retaliation for tariffs the US president imposed on China. Trump demanded that Chinese countermeasures be lifted, or else he threatened to impose additional duties of 50 percent.

Since Beijing did not back down from its response, 104% duties on Chinese imports into the US began to take effect on April 9, followed by 125% duties – although at the same time for other countries, Trump imposed a 90-day pause in the implementation of duties.

According to the American president, all because of “the lack of respect that China has shown toward world markets.”