China does not demand the elimination of tariffs and promises to respond

China does not demand the elimination of tariffs and promises to respond

China on Thursday demanded that the United States immediately cancel its latest tariffs and vowed to take countermeasures to protect its interests, following U.S. President Donald Trump's announcement of sweeping tariffs on all U.S. trading partners around the world.

China's Ministry of Commerce said in a statement that the U.S. move ignores the balance of interests reached through multilateral trade negotiations over the years, and overlooks the fact that it benefits greatly from international trade

China strongly opposes this and will take countermeasures to protect its rights and interests,” the ministry added, as the world's two largest economies appear on the verge of engaging more deeply in a trade war that will shake global supply chains

Trump announced on Wednesday that China will face tariffs of 34% on top of the 20% he imposed on it earlier this year, bringing the total new tariffs to 54% and approaching the 60% he threatened during his campaign.