The Chinese government on Saturday expressed strong condemnation of and firm opposition to the imposition of “reciprocal tariffs” by the United States.
In a statement over its position on opposing U.S. abuse of tariffs, it slammed the U.S. move as a typical act of unilateralism, protectionism and economic bullying.
Under the guise of pursuing “reciprocity” and “fairness,” the U.S. is engaging in zero-sum games, essentially seeking “America First” and “American exceptionalism” in essence, it said.
The U.S. is exploiting tariffs to subvert the existing international economic and trade order, prioritizing U.S. interests above the global common good and sacrificing the legitimate interests of countries worldwide to serve America’s hegemonic agenda, said the statement.
“Such actions will inevitably face widespread opposition from the international community,” it added.
U.S. President Donald Trump on Wednesday announced a new set of levies, imposing 10 percent baseline tariffs on imports from all trading partners and higher rates on certain ones. Those “reciprocal tariffs” will take effect on April 5 and 9 respectively.
Following the U.S. move, China on Friday announced that it will impose additional 34 percent tariffs on all products imported from the U.S. starting from April 10, matching the rate of the U.S. “reciprocal tariffs” on Chinese imports.
China has taken and will continue to take resolute measures to safeguard its sovereignty, security, and development interests, said the Chinese government in Saturday’s statement.
It urged the U.S. to stop using tariffs as a weapon to suppress China’s economic growth, and stop undermining the legitimate development rights of the Chinese people.
China vows wider openness, better business environment
In the statement, the Chinese government also said, as the world’s second largest economy and second largest consumer goods market, China will only open its doors wider to the world, no matter how the international landscape changes.
China will continue to advance high-level opening up, steadily expand institutional openness in rules, regulations, management and standards, implement high-level trade and investment liberalization and facilitation policies, foster a first-class business environment that is market-oriented, law-based, and internationalized so as to share development opportunities with the world to achieve mutual benefit and win-win outcomes, it said.
It noted that economic globalization is an inevitable path for human development.
The rules-based multilateral trading system, with the World Trade Organization (WTO) at its core, has made significant contributions to advancing global trade, fostering economic growth and promoting sustainable development, it added.
Open cooperation represents the trend of history, and the world must not and should never revert to isolation and fragmentation, stressed the statement.
Mutual benefit and win-win cooperation reflect the shared aspirations while “beggar-thy-neighbor” economic bullying will ultimately backfire, it said.
It is the collective responsibility of the international community to steer economic globalization toward greater openness, inclusiveness, balanced benefits and equitable outcomes, according to the statement.
‘No winner in trade or tariff war’
The Chinese government said in the statement that development is a universal right of all countries, not a privilege reserved for only a few.
International affairs should be addressed through collective consultation, and the future of the world must be shaped by all countries together, it added.
“There are no winners in trade wars or tariff wars, and protectionism offers no way forward,” read the statement.
All nations should uphold the principles of extensive consultation, joint contribution, and shared benefits, adhere to true multilateralism, jointly oppose all forms of unilateralism and protectionism, safeguard the international system with the United Nations at its core, and preserve the WTO-centered multilateral trading order, it said.
“We are confident that the overwhelming majority of countries that believe in fairness and justice will stand on the right side of history and make choices aligned with their own interests,” said the Chinese government. “What we need in today’s world is justice, not hegemony.”
By CGTN
