China continues to express its frustration with the U.S. following Trump’s promise to impose an additional 50% duty on U.S. imports from China starting Wednesday if Beijing does not retract the reciprocal tariff of 34% that it enacted on U.S. products last week.
Today, China’s Commerce Ministry made a statement saying: “The U.S. side’s threat to escalate tariffs against China is a mistake on top of a mistake, once again exposing the American side’s blackmailing nature… If the United States insists on having its way, China will fight to the end.”
When questioned whether Washington and Beijing are potentially open to holding discussions, Chinese Foreign Ministry spokesperson Lin Jian said, “I think what the U.S. has done doesn’t reflect a willingness for sincere dialogue. If the U.S. really wants to engage in dialogue, it should adopt an attitude of equality, mutual respect and mutual benefit.”
The EU’s Commission President, Ursula von der Leyen, admitted she called China’s Premier Li Qiang on Tuesday in an attempt to persuade China to ensure a “negotiated solution” to the tariffs imposed by U.S. President Donald Trump.
According to a statement from her office, von der Leyen “stressed the responsibility of Europe and China, as two of world’s largest markets, to support a strong reformed trading system, free, fair and founded on a level playing field.”
Today, global stocks have regained some ground, the Hang Seng closed 2.3% higher today, while the onshore CSI 300 Index finished 1.7% higher after a 7% drop yesterday.
Before the bell, U.S. stock futures surged and the Nasdaq is set for a higher opening.
By CEO NA Editorial Staff
