China has called on the United States to meet it “halfway” as U.S. President Donald Trump imposed additional tariffs on Chinese goods. However, in a major relief to global markets, Trump also announced a 90-day pause on tariff hikes for most other countries.
Stocks surged on Wall Street and across Asia and Europe in response to Trump’s decision to hold off on raising tariffs for nearly all nations. At the same time, Trump confirmed he was increasing tariffs on China to 125 percent, up from the previous 104 percent, intensifying the ongoing trade standoff between the world’s two largest economies.
These higher tariffs against China took effect Thursday, coinciding with retaliatory duties imposed by Beijing on U.S. imports, which now stand at 84 percent. China’s Ministry of Commerce warned that the tariff hikes could “severely” impact the global economy but emphasized that “the door to dialogue is open.”
Spokesperson Yongqian expressed hope that the U.S. would meet China “halfway” and resolve differences through respectful, peaceful negotiations based on mutual benefit.
The Chinese foreign ministry also condemned the tariff increases, stating that they were “going against the whole world.”
Trump, however, remained optimistic, asserting that trade deals would eventually be struck with all countries, including China. He suggested that China’s leadership is unsure of how to proceed, but that an agreement would eventually come.
Meanwhile, as Beijing considers how to respond, Bloomberg reported that China’s top leadership is convening to discuss potential stimulus measures to support its struggling economy, which had been weakened even before the trade war.
