In response to US' announcement of "reciprocal tariffs" on all its trade partners, China's commerce ministry (MOFCOM) said on Thursday that China strongly opposes the move and will firmly take countermeasures to safeguard its own interests. 

"There is no winner in a trade war, and protectionism leads nowhere. China urges the US to immediately remove unilateral tariffs and resolve differences with trade partners through dialogue," a ministry spokesperson said.

Amid widespread opposition, US President Donald Trump declared a "national emergency" and announced a sweeping "reciprocal" tariff policy on Wednesday US time, setting a baseline tariff of 10 percent on all imported goods, with higher tariffs on many countries, according to US media.

The plan imposes steep tariff rates on many countries, including 49 percent on Cambodia, 46 percent on Vietnam, 34 percent on China, 24 percent tariff on Japan, 20 percent on the EU, US media reported, noting that more than 180 countries and regions will face tariffs.

The US claims that it has suffered losses in international trade and is using so-called "reciprocity" as a justification to raise tariffs on all its trading partners. This approach disregards the balance of interests achieved through years of multilateral trade negotiations and ignores the fact that the US has long reaped substantial benefits from international trade, the MOFCOM spokesperson said.

"The so-called 'reciprocal tariffs,' determined based on unilateral and subjective assessments, violate international trade rules, severely undermine the legitimate rights and interests of relevant parties, and represent a typical act of unilateral bullying. Many trading partners have already expressed strong dissatisfaction and clear opposition to this move," the spokesperson said.

History has proven that raising tariffs does not solve US' own problems — it harms US interests while also threatening global economic growth and the stability of industrial and supply chains, the spokesperson said.

Source: Global Times

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