Why China’s Response to Trump’s Tariffs Is So Muted
- 6 years ago
Why China’s Response to Trump’s Tariffs Is So Muted
The move was in response to the Trump administration’s announcements
that it would apply tariffs on Chinese steel and aluminum, and came hours after Mr. Trump said he would impose tariffs on about $60 billion worth of Chinese-made products.
“We are confident and capable of meeting any challenge and hope
that the United States will pause on the brink of a precipice, make careful decisions and avoid dragging bilateral trade relations to a dangerous place.”
For now, the proposed Chinese penalties appear to be a carefully calibrated response
to the American steel and aluminum tariffs, which took effect on Friday.
China’s Ministry of Commerce said on Friday that it would impose tariffs on $3 billion worth of
American-produced fruit, pork, wine, seamless steel pipes and more than 100 other products.
Beijing said it would challenge the penalties at the World Trade Organization, and would carry out its trade restrictions in accordance with W. T.O.
“The U. S. has unsheathed its sword after an extended period of saber rattling, and the Chinese are now unsheathing their weapons.”
“I hope this will not spiral into a very broad set of sanctions on both sides,” he said, “but I think, given Mr. Trump’s instincts
and his very keen desire to deliver a political win whatever the political fallout might be, I don’t think it can be tamped down now.”
Stock markets in Asia slid on news of the escalating trade confrontation.
Analysts say the latest round of United States tariffs, if imposed, would likely have a minimal impact on the Chinese economy.
The move was in response to the Trump administration’s announcements
that it would apply tariffs on Chinese steel and aluminum, and came hours after Mr. Trump said he would impose tariffs on about $60 billion worth of Chinese-made products.
“We are confident and capable of meeting any challenge and hope
that the United States will pause on the brink of a precipice, make careful decisions and avoid dragging bilateral trade relations to a dangerous place.”
For now, the proposed Chinese penalties appear to be a carefully calibrated response
to the American steel and aluminum tariffs, which took effect on Friday.
China’s Ministry of Commerce said on Friday that it would impose tariffs on $3 billion worth of
American-produced fruit, pork, wine, seamless steel pipes and more than 100 other products.
Beijing said it would challenge the penalties at the World Trade Organization, and would carry out its trade restrictions in accordance with W. T.O.
“The U. S. has unsheathed its sword after an extended period of saber rattling, and the Chinese are now unsheathing their weapons.”
“I hope this will not spiral into a very broad set of sanctions on both sides,” he said, “but I think, given Mr. Trump’s instincts
and his very keen desire to deliver a political win whatever the political fallout might be, I don’t think it can be tamped down now.”
Stock markets in Asia slid on news of the escalating trade confrontation.
Analysts say the latest round of United States tariffs, if imposed, would likely have a minimal impact on the Chinese economy.