BEIJING urged the United States to immediately cancel its latest tariffs and vowed countermeasures to safeguard its own interests, after US President Donald Trump declared sweeping levies on all US trading partners around the world, reports Reuters.
The US move disregards the balance of interests reached in multilateral trade negotiations over the years and the fact that it has long benefited greatly from international trade, the Chinese commerce ministry said.
'China firmly opposes this and will take countermeasures to safeguard its own rights and interests,' the ministry said, as the world's largest economies look set to spiral deeper into a trade war that stands to upend global supply chains.
Trump on Wednesday announced china would be hit with a 34 per cent tariff, on top of the 20 per cent he previously imposed earlier this year, bringing the total new levies to 54 per cent and close to the 60 per cent figure he had threatened while on the campaign trail.
SeaNews Turkey
The US move disregards the balance of interests reached in multilateral trade negotiations over the years and the fact that it has long benefited greatly from international trade, the Chinese commerce ministry said.
'China firmly opposes this and will take countermeasures to safeguard its own rights and interests,' the ministry said, as the world's largest economies look set to spiral deeper into a trade war that stands to upend global supply chains.
Trump on Wednesday announced china would be hit with a 34 per cent tariff, on top of the 20 per cent he previously imposed earlier this year, bringing the total new levies to 54 per cent and close to the 60 per cent figure he had threatened while on the campaign trail.
SeaNews Turkey
