China on Monday accused the United States of engaging in unilateral actions, protectionist policies and economic intimidation through tariffs, whilst urging American business representatives, including Tesla, to ‘take concrete actions’ to address the tariff situation.
China’s foreign affairs spokesperson Lin Jian stated that prioritising ‘America First’ over international protocols disrupts global production stability and supply chains, significantly affecting worldwide economic recovery.
Trump imposed an additional 34% tariff on Chinese products as part of “Liberation Day” last week, following two previous 10% tariff implementations in February and March, citing Beijing’s involvement in the fentanyl crisis. In response, China and other nations swiftly retaliated, with China matching the 34% tariff rate on American goods.
“Pressure and threats are not the way to deal with China. China will firmly safeguard its legitimate rights and interests,” Lin said.
According to a meeting summary by AP, Ling Ji, a vice minister of commerce, told the 20 American companies, “The root of the tariff problem is in the US. We hope the American companies can address the problem at its root, … issue reasonable statements, take concrete actions, and work together to safeguard the stability of the global supply chain.”
Ling assured that China would maintain its openness to foreign investment and affirmed investment safety.
Despite market declines in Hong Kong and Shanghai on Monday, Beijing maintained an optimistic stance. Beijing announced various countermeasures on Friday evening, including halting sorghum, poultry and bonemeal imports from certain American firms, implementing stricter controls on rare earth mineral exports crucial for various technologies, and initiating World Trade Organization legal proceedings.
Chinese government officials held meetings with various American business representatives, including Tesla and GE Healthcare, over the weekend.
