China Calls For Global Unity Against Trump’s Tariffs

5 Apr at 1:04 pm

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China Calls For Global Unity Against Trump’s Tariffs/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ China’s foreign ministry strongly condemned new U.S. tariffs, calling them economic “bullying” and warning they will backfire. In a fiery statement, Beijing accused the U.S. of undermining global trade norms and prioritizing self-interest. The 34% reciprocal tariffs imposed by China came after President Trump’s own 34% hike on Chinese imports.

Italy’s **Minister of Economy and Finance Giancarlo Giorgetti** called for a “**de-escalation**” of trade tensions with the U.S., cautioning against reactive policies.

China Slams U.S. Over Tariffs, Warns of Blowback – Quick Looks

China labels U.S. tariffs “economic bullying”, vows retaliation
New 34% reciprocal tariff imposed on U.S. goods after Trump’s announcement
Beijing says pressure tactics “will ultimately backfire”
Foreign ministry: U.S. is disrupting international trade order
Chinese business chambers call for global unity
Beijing calls for “equal-footed consultation” to resolve disputes
Stock markets tumble in response to tariff escalation
Italian officials urge de-escalation, warn against EU counter-tariffs

China Calls For Global Unity Against Trump’s Tariffs

Deep Look

BEIJING/WASHINGTON — China issued a scathing response Friday to President Donald Trump’s latest round of tariffs, accusing the United States of “economic bullying” and warning that pressure tactics would not force Beijing into submission.

The Chinese foreign ministry declared, “We do not seek conflict, nor do we fear it,” in a pointed and expansive statement aimed at Washington. The comments followed Trump’s announcement Wednesday of a 34% tariff on Chinese imports, a move that immediately prompted reciprocal tariffs of the same amount from China.

“Pressure and threats are not the correct ways to engage with China,” the ministry said.

Beijing Condemns U.S. Strategy

Calling the U.S. actions an attempt to “subvert the existing international economic and trade order,” China’s foreign ministry accused Washington of placing “self-interest above the common good of the international community.”

A separate statement by ministry spokesperson Guo Jiakun doubled down, stating, “The market has spoken,” in reference to steep drops across major U.S. stock indexes since the tariff announcement.

Guo also urged the U.S. to resolve trade disputes through “equal-footed consultation” and criticized what he called an unprovoked and unjustified trade war initiated by Washington.

Stock Market Turmoil

The economic fallout was swift. By the market close Thursday, the Dow Jones Industrial Average recorded its worst back-to-back losses since March 2020, when pandemic fears rattled global markets. The S&P 500 and Nasdaq also saw significant declines, driven by investor fears of rising costs and an impending global recession.

Tariff anxiety is now the leading factor driving investor sentiment, with widespread concern about prolonged economic disruption.

Italy and Europe Push for Calm

As tensions escalate, European allies are urging restraint. Italy’s Minister of Economy and Finance Giancarlo Giorgetti called for a “de-escalation” of trade tensions with the U.S., cautioning against reactive policies.

“We should avoid launching a policy of counter-tariffs that could be damaging for everyone and especially for us,” Giorgetti said at a business forum.

Italy’s Prime Minister Giorgia Meloni also downplayed the immediate threat to EU-U.S. trade relations but acknowledged the seriousness of the situation.

“We will not stop exporting to the United States, so it is a problem we must solve, but beware of the alarmism I am seeing in these hours,” Meloni said Thursday.

EU Ready to Respond

Still, European Commission President Ursula von der Leyen stated earlier this week that “Europe is ready to respond” to the U.S. tariffs, which she described as “a major blow to the world economy.”

The European Union is currently weighing options for countermeasures that would target key U.S. exports, though some member states, including Italy, are urging a more cautious approach.