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China slams US for unilateralism, protectionism, economic bullying with tariffs

Monday, 07 April 2025 2:25 PM [ Last Update: Monday, 07 April 2025 2:25 PM ]

People walk by an electronic board displaying Shanghai shares trading index at a brokerage house, in Beijing, China, April 7, 2025. (AP)

China has criticized US foreign economic policy, accusing the United States of unilateralism, protectionism and economic bullying with tariffs.

Foreign Affairs spokesperson Lin Jian told reporters on Monday that US trade war was dealing a severe blow to the global economy.

"Putting ‘America First’ over international rules is a typical act of unilateralism, protectionism and economic bullying,” Lin said.

Last week, the US slapped an additional 34 percent tariff on Chinese goods as part of “Liberation Day,” coming on top of two rounds of 10 percent tariffs already declared in February and March, which Trump said was due to Beijing’s role in the fentanyl crisis.

World nations, including China, quickly reacted to the new tariffs.

Beijing placed a 34-percent tariff rate on US goods, mirroring Trump's tariff rate for China.

China hits back with 34% tariffs on US imports as fears of global recession rise

China has announced retaliatory tariffs of 34% on US imports taking effect from April 10, signaling a sharp escalation of a major trade war that could lead to global recession.

Beijing also suspended sorghum, poultry and bonemeal imports from some of the companies in the United States.

The latest retaliatory moves by Beijing include more export controls on rare earth minerals, critical for various technologies, and a lawsuit at the World Trade Organization.

Lin said the Trump tariffs harmed the stability of global production and supply chain and seriously impacted the world's economic recovery.

“Pressure and threats are not the way to deal with China. China will firmly safeguard its legitimate rights and interests,” Lin added.

In the meantime, Wall Street’s main indexes posted their biggest single-day losses in years on Thursday.

JP Morgan also has raised the probability of a global recession by the end of the year from a previous estimate of 40 percent up to 60 percent.

Market experts believe that the ongoing "tit for tat" trade war will increase investors' fear, dealing a blow to global trade.

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