Chinese state media cautioned that U.S. tariffs would cause considerable damage to the American economy, as other nations retaliate with high tariffs on American products. This warning leaves room for Beijing to potentially implement additional measures as a new wave of tariffs appears imminent.
President Donald Trump's return to the White House saw the initiation of trade disputes with China, Canada, Mexico, and the European Union in a span of just two months. Trump has also issued threats of reciprocal tariffs on all countries taxing U.S. imports, which could take effect on April 2.
In response to previous Trump tariffs, China promptly imposed countermeasures in February and March. If the April tariffs are enforced, Beijing is expected to react swiftly.
The nationalist Chinese tabloid Global Times emphasized that trading partners of the U.S. will not remain passive in the face of tariffs, hinting at the possibility of imposing high tariffs on American exports.
China has already imposed retaliatory tariffs on U.S. agricultural and food exports, imposed restrictions on 25 U.S. companies' exports and investments, suspended soybean import licenses for three U.S. businesses, and ceased U.S. log imports. Additionally, China has initiated investigations into U.S. fiber optic products.
To assist foreign companies in China withstand external economic disturbances, the country's commerce ministry is set to implement measures to help them boost sales within China, as reported by Yuyuan Tantian on a social media account associated with state broadcaster CCTV.
Many countries, as mentioned by the Global Times, are actively seeking to diversify their economic partnerships and reduce dependency on the U.S. by establishing new trade alliances.