Beijing – Arab Canada News

China expressed its strong rejection today, Thursday, of the new tariff package announced by U.S. President Donald Trump, affirming that it will take “countermeasures” to protect its economic and trade interests, in a new escalation that threatens to revive tensions between the world's two largest economies.

The Chinese Ministry of Commerce stated in an official statement:

“The new U.S. tariffs violate international trade rules, severely harm the legitimate interests of the parties involved, and ignore the balance of interests achieved over years of negotiations."

34% on Chinese imports… and the Chinese response is in preparation

The Chinese response came after Trump announced on Wednesday evening that Washington would impose new tariffs of up to 34% on Chinese imports, in response to what he described as “excessive tariffs” imposed by Beijing reaching 67%.

He also announced a 32% tariff on products coming from Taiwan, which Washington considers part of China under the “One China” policy, complicating the geopolitical landscape further.

Trump: “Today is a declaration of economic independence”

Trump described April 2nd as “a historic day when America regains its economic destiny,” adding that the revenues from the tariffs will be used to reduce taxes and pay down the national debt.

He said in a speech from the White House:

“During my first term, I collected hundreds of billions of dollars from China through tariffs, after decades of evading payment. Today we are tipping the scales in favor of Americans.”

Tensions return after years of a phased agreement

These remarks come about four years after the signing of the “phase one trade agreement” between Washington and Beijing in January 2020, in which China committed to increasing its imports of U.S. goods by more than $200 billion over two years.

However, despite a 3.7% increase in bilateral trade in 2024, and the continued rise of Chinese exports (+4.9%), the trade deficit in favor of China remains, with a slight decline in U.S. exports to Beijing (-0.1%).

Tensions come back to the forefront

The U.S. move recalls the characteristics of the trade war that erupted between the two countries between 2018 and 2020, when Washington imposed tariffs on Chinese imports worth $370 billion, to which Beijing responded with similar tariffs.

The current escalation is seen as part of Trump’s policy to strengthen his electoral position and enhance what he describes as “American economic sovereignty,” although observers warn of its deep impacts on global supply chains and emerging markets.

In summary:

Between fiery statements from Washington and cautious responses from Beijing, U.S.-China trade relations are heading towards a new phase of tension that could have broader implications for the entire global economy.