After President Donald Trump announced a possible 100% tax hike on Chinese imports set to take effect as early as Nov. 1, China responded by urging him to withdraw his recent threat.
China’s Ministry of Commerce issued a detailed response claiming that the U.S. was “severely damaging the atmosphere of trade negotiations.”
“China urges the U.S. to promptly correct its erroneous practices,” Lin Jian said Monday. “If the U.S. insists on going its own way, China will certainly take resolute measures to safeguard its legitimate rights and interests.”
Since his announcement, President Trump took to Truth Social to issue a subtle warning to President Xi Jinping.
Trump wrote: “Don’t worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn’t want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!!”
The recent increase in trade war tensions follows China’s implementation of stricter restrictions on rare earth minerals on Thursday.
U.S. tariffs on China are currently nearly 145% in some instances, but they are suspended until Nov. 10.
By CEO NA Editorial Staff
