'No compromise': China's firm stance on US trade deals that hurt its interests
China on Monday criticized other nations choosing to strike trade agreements with the United States at the expense of Beijing and threatened to impose countermeasures against such countries that "flatter" Washington during the tariff war.
China has vehemently condemned countries that are contemplating trade agreements with the US that might compromise Beijing's interests. In retaliatory action, China has slapped duties on US products following the US tariffs on Chinese goods. The US imposed 145% tariffs on some Chinese products, and China reacted by slapping 125% duties on US products.
US suspends Tariffs on some countries
US President Donald Trump has put on hold the tit-for-tat tariffs on other nations for 90 days, except China, which continues to face US tariffs. Some nations are in talks with the US to lower tariffs or sign a mutually beneficial trade agreement. India has also been in discussions with US officials regarding a bilateral trade agreement.
China's warning to nations
A spokesman from the Beijing ministry of commerce warned countries not to engage in trade deals with the US that may hurt China's interests."Appeasement will not lead to peace and compromise will not be honored. Chasing one's own short-term selfish interests at others' cost is chasing tiger's skin," the spokesman said. "China firmly opposes any party to sign a contract at China's loss. If that is the case, China will never support it and will firmly take countermeasures."
Trade war escalates
The US-China trade war has been going on for months now with each nation imposing tariffs on the other's products. The US charged China with protectionism, and China responded by charging the US with protectionism.The trade war has had enormous effects on the global economy, with most nations affected by the tariffs.
Impact on global economy
The US-China trade war has major implications for the world economy. Most nations are being compelled to take sides, and the uncertainty of the trade war is leading to volatility in financial markets. The US-China trade war has also created fears of a global trade war, which could have major implications for the economy.
China's countermeasures
China has asserted that it will take retaliatory measures against any nation that enters into a trade agreement with the US at its cost. The nation has already levied tariffs on US products and is most likely to escalate further if its interests are at stake. The US and China are locked in a fierce trade war, and only time will tell how the scenario will turn out.
