A Chinese official on Tuesday said India and China should stand together to overcome the challenges faced due to the reciprocal tariffs announced by U.S. President Donald Trump’s administration this month.
In an X post, Yu Jing, spokesperson, Chinese Embassy to India, said: “China is a firm defender of economic globalization and multilateralism, which has injected strong impetus into the world economy, contributing to around 30 percent of global growth annually on average. We will continue to work with the rest of the world to safeguard the multilateral trade system with the World Trade Organization (WTO) at its core.”
“China-India economic and trade relationship is based on complementarity and mutual benefit. Facing the U.S. abuse of tariffs, which deprives countries, especially Global South countries, of their right to development, the two largest developing countries should stand together to overcome the difficulties,” she said.
“Trade and tariff wars have no winners. All countries should uphold the principles of extensive consultation, practice true multilateralism, jointly oppose all forms of unilateralism and protectionism,” she said.
104% Tariff On China
The United States has officially imposed a massive 104% tariff on Chinese imports, triggering tension in the already deteriorated relationship between the world’s two largest economies.
The U.S. move might hit troubled global markets, which have witnessed massive falls in recent days since President Trump announced reciprocal tariffs.
President Donald Trump is set to impose an astounding 104% in levies across all Chinese imports on Wednesday, White House Press Secretary Karoline Leavitt announced on Tuesday, as quoted by CNN.
As part of Trump’s reciprocal tariff package, China was already set to see a tariff hike of 34%.
However, Trump imposed an additional 50% tariff when China did not back out from its promise to impose 34% retaliatory tariffs on US goods by noon Tuesday.
The US had previously imposed a 20% tariff on China in March.
Speaking on the latest moves announced by the U.S., Karoline Leavitt wrote on X: “Countries like China who retaliate and try to double down on their mistreatment of America are making a gigantic mistake.”
“President Trump has a spine of steel. America will not bend, and we will not break under his leadership,” she said.
She further said, “President Trump is guided by a firm belief that America must be able to produce essential goods for our own people and export them to the rest of the world.”
Trump’s Sweeping Reciprocal Tariffs
Triggering almost a global trade war, Trump last week announced tariffs of at least 10% on almost all goods from other countries, plus even higher rates for many nations, including friends, but deemed to be “worst offenders”.
Addressing an audience in the Rose Gardens of the White House, including rows of construction helmet-wearing workers, Trump had said, “The tariffs will not be fully reciprocal. I could have done that, I guess. But it would have been tough for a lot of countries.”
Apart from China, Trump announced a reciprocal tariff of 26% on India and 20% on the European Union, among others.
(With inputs from IBNS)
