The US president has sent mixed signals, saying countries are “dying” to make a deal, while at the same time saying the tariffs could be “permanent.” Markets are reeling amid fears of a global trade war.
China vows to ‘fight’ as hefty US tariffs kick in
China declared its firm resolve to “fight till the end” in a trade war with Washington, after the United States’ hefty 104% tariffs on Chinese goods came into effect on Wednesday.
“With firm will and abundant means, China will resolutely take countermeasures and fight till the end if the United States insists on further escalating economic and trade restrictive measures,” Beijing’s Commerce Ministry said in a statement reported by Xinhua news agency.
At the same time, the statement added that there are “no winners in a trade war.”
“China does not want one, but the government will never allow the legitimate rights and interests of the Chinese people to be harmed or taken away.”
With tariffs over 100%, China is by far the country hardest hit by the Trump administration’s tariffs. Trump nearly doubled duties on Chinese imports, which had been set at 54% last week, in response to Chinese counter-tariffs of 34% on US goods levied last week.
Foreign Ministry spokesperson Lin Jian has accused the US of abusing “tariffs to pressure China,” condemning what he described as American “bullying.”
Meanwhile, China’s top leaders are reportedly meeting as early as Wednesday to prepare economic support measures to boost the economy and stabilize the capital markets, according to Reuters.
At the same time, a White Paper on trade with the US released on Wednesday by China, said that economic friction between the two nations is normal, insisting that Beijing remains open to dialogue, Xinhua reported.
European Union trade ministers met on Monday in Luxembourg, weeks ahead of schedule, to address the fallout from the tariffs imposed by the United States.
The emergency meeting followed US President Donald Trump’s announcement of sweeping 20% tariffs on nearly all EU exports, impacting goods valued over €532 billion ($585 billion) in 2024.
For the leaders the message was clear from the start: Europe will respond with both unity and determination, with Germany’s outgoing Economic Minister Robert Habeck underscoring the need for European solidarity.
A proposed €25.7 billion tariff package on US goods will be voted on Wednesday in response to the first round of US tariffs on aluminum and steel back in March.
