“The market spoke,” he estimated China rejecting them duties US President Donald Trump and calling Washington to “consultations on equal terms”.
Many commercial associations in China, from sectors such as weaving, pharmaceutical industry and electronics, have issued today (05.04.25) announcements, Calling in section in search of alternative purchases And warning that duties will aggravate inflation in the US.
«The market talked“, Commented by Guo Ziakun of the Chinese Foreign Ministry with a post on Facebook this morning, which was accompanied by with a photo showing the fall of the US Stock Exchange.
THE Trump announced additional 34% duties in Chinese imported products (A total of 54% from the beginning of the year), as part of the imposition of new duties on most US trade partners.
In addition, the US president canceled a “window” that allowed the US to be imported into the US without duty packages from China.
These Washington moves caused the reaction of Beijing Friday (04.04.25), which announced an additional 34% tariffs on US imported products and the reduction of some rare land exports, escalating the trade war between the two largest economies.
The stock markets all over the world were plunged yesterday after China’s announcement and Trump’s warning that they would not change politics, expanding the losses they had recorded earlier in the week following the Republican’s announcement to impose new duties.
The S&P index recorded a 9% total drop in the previous week.
«Now is the time for the US to stop doing the wrong things and resolve differences with their commercial partners through negotiations on equal terms“, Guo estimated in his post in English.
The Chinese Association of Food Traders has asked the “Chinese import-export industry of food and agricultural products to unite and enhance cooperation in order to seek together domestic and foreign markets”.
The Association of Metals and Chemicals estimated that US duties “will increase the costs for US importers and consumers, exacerbate domestic inflation in the US and increase the chances of recession in the US”.