Analysts say Beijing nonetheless hopes to negotiate a truce with the Trump administration, however with no indicators of any commerce talks, cooperation between the 2 financial giants is fading
China is preparing countermeasures in opposition to contemporary U.S. import tariffs set to take impact on Tuesday (March 4, 2025), China’s state-controlled Global Times reported, elevating the prospect of an all-out commerce struggle between the world’s prime two economies.
U.S. President Donald Trump final week threatened China with the additional 10% obligation, leading to a cumulative 20% tariff, whereas accusing Beijing of not having executed sufficient to halt the circulation of fentanyl into America, which China’s commerce ministry mentioned was tantamount to “blackmail.”
“China is studying and formulating relevant countermeasures in response to the U.S.’ threat of imposing an additional 10% tariff on Chinese products under the pretext of fentanyl,” Global Times reported on Monday (March 3, 2025), citing an antonymous supply.
“The countermeasures will likely include both tariffs and a series of non-tariff measures, and U.S. agricultural and food products will most likely be listed,” the report added.
Global Times, which is owned by the newspaper of the governing Communist Party, People’s Daily, was first to report the steps China deliberate to absorb response to the European Union slapping tariffs on Chinese electrical autos final yr.
Mr. Trump’s announcement left Beijing with lower than every week to give you countermeasures or strike a deal. The proposed additional levies additionally coincide with the beginning to China’s annual assembly of parliament, a political set piece occasion at which Beijing is predicted to roll out its 2025 financial priorities.
Analysts say Beijing nonetheless hopes to negotiate a truce with the Trump administration, however with no indicators of any commerce talks the prospect of a rapprochement between the 2 financial giants is fading.
The U.S. has lengthy been weak to China utilizing its agricultural merchandise as a punching bag in occasions of commerce tensions.
China stays the largest marketplace for U.S. agriculture merchandise regardless of a decline in imports since 2018, after Beijing slapped tariffs of up to 25% on soybeans, beef, pork, wheat, corn and sorghum in retaliation for duties on Chinese items imposed by Mr. Trump.
Beijing has since 2018 pushed to diversify sourcing and lift home output in its quest for better meals safety.
Published – March 03, 2025 10:54 pm IST
