China has accused the United States of abusing tariffs and warned other countries against making deals that would harm China’s interests. The escalating trade war between the two nations has seen increased tariffs imposed on each other’s goods. Beijing has stated that it will take countermeasures in response to any deals made at China’s expense.
The Trump administration is reportedly pressuring countries to reduce trade with China in exchange for tariff reductions or exemptions from the U.S. China has raised tariffs on U.S. goods in retaliation for the U.S. raising tariffs on Chinese imports. It has also signaled that it will not raise rates further. China has insisted that it will safeguard its interests and strengthen solidarity with other parties.
The Trump administration’s tariff policies have caused concern among investors, with fears that disruption in world trade could lead to global recession. China has been trying to expand its trading partners to mitigate the impact of the trade war. Economic ministers from Southeast Asian countries are seeking trade negotiations with the U.S. as they are caught in the middle of the Sino-U.S. tariff war.
China’s President Xi Jinping has visited Southeast Asian countries to strengthen regional ties and oppose unilateral bullying in trade. The region’s huge trade value with both China and the U.S. puts it at risk in the ongoing trade war. Xi emphasized that there are no winners in trade wars, highlighting the need for a resolution to the conflict.
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