China on Thursday responded to US President Donald Trump's decision to raise the duties on Beijing to 125 per cent and exclude it from the 90-day tariff pause mechanism, as it said it does not seek confrontation. In a statement, the Chinese Ministry of Commerce's spokesperson said that China's position is clear, adding, "If the US wants to talk, our door remains open, but dialogue must be conducted on the basis of mutual respect and equality."
He also asserted that "pressure, threats, and blackmail are not the right way to deal with China" and warned that Beijing will not back down if Washington "insists on its own way".
China reaches out to other nations
Meanwhile, China has started to reach out to other nations as the US keeps unleashing fresh tariffs. Beijing's outreach is being seen as an attempt to form a united front to compel Washington to retreat.
However, Beijing is unlikely to get a major breakthrough in its attempts since many countries are unwilling to ally with the main target of President Donald Trump's trade war.
Facing the cratering of global markets, Trump on Wednesday backed off his tariffs on most nations for 90 days, saying countries were lining up to negotiate more favourable conditions.
China has refused to seek talks, saying it would “fight to the end” in a tariff war, prompting Trump to further jack up the tax rate on Chinese imports to 125 per cent. China has retaliated with tariffs of 84 per cent on US goods, which took effect Thursday.
Is China prepared to tackle Trump's tariffs?
Since Trump imposed his first round of tariffs on China during his first term in 2018, Chinese leaders have developed a toolkit of tariffs, import curbs, export controls, sanctions, regulatory reviews and measures aimed at limiting companies from doing business in China.
These tools are tailored to inflict pain on the US economy and businesses in response to move from the US that threaten the Chinese economy.
(With inputs from AP)
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