China US
“About the issue of US tariffs on China, China believes that China-US economic and trade cooperation is mutually beneficial in nature. No one will win a trade war or a tariff war,” a Chinese embassy spokesperson in Washington told the Global Times in an emailed reply.
The remarks came after President-elect Donald Trump threatened on Monday to impose sweeping new tariffs on Mexico, Canada and China as soon as he takes office as part of his effort to crack down on illegal immigration and drugs. He said he would impose a 25 percent tax on all products entering the country from Canada and Mexico, and an additional 10 percent tariff on goods from China, as one of his first executive orders, the Associated Press reported.
“Until such time as they stop, we will be charging China an additional 10% Tariff, above any additional Tariffs, on all of their many products coming into the United States of America,” he wrote on his Truth Social site.
In response to Trump’s accusation on China, the spokesperson told the Global Times that the counternarcotics authorities of China and the US have resumed regular communication since the San Francisco Summit. The Chinese side has notified the US side of the progress made in US-related law enforcement operations against narcotics. China has responded to US request for verifying clues on certain cases and taken action. All these prove that the idea of China knowingly allowing fentanyl precursors to flow into the US runs completely counter to facts and reality.
The tariffs, if implemented, could dramatically raise prices for American consumers on everything from gas to automobiles to agricultural products. The US is the largest importer of goods in the world, with Mexico, China and Canada its top three suppliers, according to the most recent US Census data, the Associated Press reported.
Trump has previously pledged to slap tariff on Chinese imports in excess of 60 percent, according to a Reuters report.
In response to such rhetoric, China International Trade Representative and Vice Minister of Commerce Wang Shouwen said on Friday that history has shown that raising tariffs on Chinese goods cannot resolve the tariff-imposing country’s trade deficit; instead, it leads to higher prices for imported products and inflation, with the burden ultimately falling on consumers, Xinhua News Agency reported.
Wang highlighted China’s capacity in dealing with external shocks, largely owing to its resilient and vibrant economy that has great potential.
The Chinese and US economies are highly complementary, Wang said, emphasizing the critical importance of their relations. Maintaining balanced, healthy and sustainable economic and trade relations would benefit not only people of both sides but also people from all countries around the world, he said, adding this is in line with the expectations of the international community.