The China Story
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China has called on the United States to remove unilateral tariffs as quickly as possible and work with it in the spirit of mutual respect, peaceful coexistence and win-win cooperation, in order to address respective concerns through dialogue and consultations on an equal footing, the Ministry of Commerce said on Wednesday.
China has made full preparations to address various uncertainties in the face of the pressure that external shocks may exert on the country's economic stability, Premier Li Qiang said on Wednesday.
Wayne, an IT worker from Houston, Texas, said he does not need economic experts or the media to tell him how the tariffs will impact him and his family.
In launching an unnecessary and poorly conceived trade war — particularly against China — US President Donald Trump has committed at least three serious strategic errors.
As I write, the United States and China are cascading into the abyss of an all-out trade war, the mother of economic battles that could be the harshest in human history, harming not only the American and Chinese people, but all the people gracing planet Earth.
China will raise additional tariffs on all goods imported from the United States to 84 percent, starting at 12:01 am on Thursday, and has added 18 US entities to its export control and unreliable entity lists in order to counter the US' unilateral tariff hikes.
China released a white paper on China-US economic, trade relations and the message is clear: Cooperation is the only path to mutual success.
Higher US tariffs are expected to weigh on developing economies in Asia-Pacific, according to economists from the Asian Development Bank.
China said on Wednesday that it will raise the tariff rate on all imported goods from the United States to 84 percent, and add 12 more US entities to the export control list.
China's State Council Information Office on Wednesday released a white paper titled "China's Position on Some Issues Concerning China-US Economic and Trade Relations."
Experts say the US's new tariff push, disrupting global trade and triggering recession risks, may lead to alternative international currencies like the yuan. Key points are: US tariffs may tighten dollar liquidity and undermine its international standing; China can promote yuan internationalization in multiple ways; dollar volatility remains high. In conclusion, yuan's future performance depends on China's policies.
Canada has escalated its trade fight with the United States by slapping a 25 percent tariff on American vehicles, a move expert says is meant to protect domestic industry but could hurt both economies.
Free-trade setback forcing Chinese firms to get more creative, innovate
China has vowed to take firm and necessary countermeasures in response to the United States' escalating tariff threats, reaffirming its commitment to defending national interests while upholding the stability of the global trade system.
"America First" is essentially nothing more than the United States trying to make the "World Coerced". As such, it is "America Cursed". A country cursed by its own megalomania and cursed by other countries for its callous malice.
European Union trade ministers meeting in Luxembourg on Monday struggled to reach an agreement on how to respond firmly and effectively to the so-called reciprocal tariffs of the United States that will hit a significant part of their exports.
The United States' new tariff push has limited impact on Chinese companies in several sectors, such as steel, information and communication, automobile, power equipment, pesticides and fertilizers, home appliances, as well as the food and beverage industries, Chinese financial news outlet Yicai reported on Monday, citing sayings of some A-share listed companies.
The United States will likely experience more pain from retaliatory tariffs than China, said Steve Cochrane, chief Asia-Pacific economist at Moody's Analytics during an interview with CCTV News on Monday.
Despite headwinds from Washington's "reciprocal tariff" strategy, China's economy is expected to remain on a steady track given its advantages such as competitive manufacturing, large market scale and sufficient space from using more policy tools — which should be given key roles at present — to hedge against the impact brought about by external challenges, recent research shows.
China has launched its own version of a "stock market stabilization fund" as the country's central bank vowed to provide funding support for the Central Huijin Investment Ltd to increase holdings in the A-share market, analysts said.
Industry associations warned that the US "reciprocal tariff" policy, signed by Trump last week, may disrupt global industrial and supply chains, harming businesses and consumers. German and Chinese associations noted it violates trading rules, affects supply chains, and burdens US consumers. China announced countermeasures. Analysts said the US move is a strategy, and may lead to market shifts and challenges for US manufacturing.
China raises equity investment cap by insurance funds
China's Central Huijin says it has full confidence, sufficient capability to maintain stable operation of capital market.
China will resolutely take countermeasures if US escalates tariff measures: commerce ministry
Japan's Nikkei 225 closed 7.83 percent lower on Monday, while Hong Kong's Hang Seng Index slumped 13.22 percent. The pan-European STOXX 600 was 6 percent lower shortly after the opening bell.
As the world grapples with rising unilateralism and protectionist pressures, China has encouraged companies from the United States to pursue fact-based dialogue and take practical steps to help safeguard the stability of global supply chains, said a senior commerce official.
The latest round of sweeping tariffs from the United States will impact many European companies' supply chain operations in China and other parts of the world, said Jens Eskelund, president of the European Union Chamber of Commerce in China.
The latest tariffs imposed by the United States against its trade partners could disrupt the international economic order and plunge free trade mechanisms into uncertainty while bringing about multidimensional negative effects for economies and consumers, analysts have said.
