China announced a 34% tariff on all goods imported from the United States on Friday in retaliation against the 34% tariff President Donald Trump unveiled Wednesday against China as part of “Liberation Day.”
In a Friday statement released by the Chinese Ministry of Finance, Chinese officials said, “The U.S. practice is inconsistent with international trade rules, seriously undermines China’s legitimate rights and interests, and is a typical unilateral bullying practice that not only undermines the interests of the United States itself, but also endangers global economic development and the stability of the production and supply chain.”
According to The Daily Wire, China announced that the 34% tariff on all goods imported from the United States will take effect on April 10.
The Chinese Ministry of Finance also called for the United States to “immediately cancel its unilateral tariff measures and resolve trade differences through consultation in an equal, respectful and mutually beneficial manner.”
According to Fox Business, Guo Jiaku, a Chinese Foreign Ministry spokesperson, told reporters on Thursday that the Trump administration’s tariffs implemented “under the pretext of reciprocity” violate the rules of the World Trade Organization and that the administration’s action “undermines the rules-based multilateral trading system.”
READ MORE: Trump unveils new tariff on countries buying Venezuelan oil
“China firmly rejects this and will do what is necessary to defend our legitimate rights and interests,” the spokesperson added. “We have emphasized more than once that trade and tariff wars have no winners. Protectionism leads nowhere. We urge the U.S. to stop doing the wrong thing, and resolve trade differences with China and other countries through consultation with equality, respect and mutual benefit.”
Trump responded to China’s retaliatory tariffs on Friday with a warning on Truth Social. The 47th president wrote, “CHINA PLAYED IT WRONG, THEY PANICKED – THE ONE THING THEY CANNOT AFFORD TO DO!”
On Wednesday, Trump announced the “Liberation Day” tariffs at an event in the Rose Garden at the White House. Trump said the day would be remembered in history as “the day American industry was reborn, the day America’s destiny was reclaimed, and the day that we began to make America wealthy again.”
In response to concerns regarding the Trump administration’s new tariffs, White House Secretary Karoline Leavitt urged Americans to “trust” the 47th president.
“This is a president who is doubling down on his proven economic formula from his first term,” Leavitt told CNN on Thursday. “We saw wages increase. We saw inflation come down. We had a Trump energy boom. We had the largest tax cuts in history, and that’s exactly what the president intends to do.”
© American Military News
