LINE

    Text:AAAPrint
    Economy

    China forced to fight back with reciprocal tariffs

    1
    2018-06-18 09:13:24Xinhua Editor : Li Yan ECNS App Download

    Hours after the U.S. administration fired the first shot on Friday, China announced additional tariffs on U.S. goods that are of the same scale and intensity and due to take effect on the same date.

    China's countermeasure is responsive, passive and reciprocal.

    The U.S. announcement of imposing additional tariffs on 50 billion U.S. dollars worth of Chinese goods follows months of shuttle diplomacy between Washington and Beijing.

    China has shown utmost sincerity in rounds of negotiations with plans to meaningfully increase purchases of U.S. goods and services, to meet demands of Chinese people for higher living standards and help the United States to boost employment.

    The U.S. side also admitted meaningful progress and important consensus were made in the past rounds of talks, as the two sides vowed not to launch a trade war.

    But consensus has soon proved to be short-lived after the U.S. side demonstrated flip-flops with an obvious intention to escalate the trade spat.

    China does not want the trade war, but facing a capricious Washington, China has no choice but to fight back vigorously in defense of its national interests, the trend of globalization and the world's multilateral trading system.

    In fact, China has prepared for volatile Washington. In the wake of the latest round of talks in Beijing earlier this month, China issued a statement, stressing that the outcome of the talks should be based on the prerequisite that the two parties meet each other halfway and will not engage in a trade war.

    All economic and trade outcomes of the talks will not take effect if the U.S. side imposes any trade sanctions including raising tariffs. Washington obviously has turned a deft ear to this serious message of China.

    When it comes to defending national interests, China means business.

    China said it will impose an additional 25-percent tariffs starting July 6 on 545 products from the U.S. including soybeans, electric cars, orange juice, whiskey, salmon and cigars.

    China noticed that the U.S. side had threatened to impose additional tariffs should China take retaliatory measures. This logic of a typical bully won't make China flinch. China is ready to take corresponding measures.

    In this day and age, launching a trade war is outdated and backward which begets popular antipathy. Earlier this year, the Trump administration had unilaterally imposed tariffs on steel and aluminum imports, sparking strong opposition even from its major trading partners.

    With its closest allies rejecting the protectionism, can the United States really afford to go it alone?

    Reciprocal tariffs are always the last resort. But if Washington is unable to stop its capriciousness which costs the interests of people of both countries, reciprocal tariffs are the leverage China has no choice but to use.

      

    Related news

    MorePhoto

    Most popular in 24h

    MoreTop news

    MoreVideo

    News
    Politics
    Business
    Society
    Culture
    Military
    Sci-tech
    Entertainment
    Sports
    Odd
    Features
    Biz
    Economy
    Travel
    Travel News
    Travel Types
    Events
    Food
    Hotel
    Bar & Club
    Architecture
    Gallery
    Photo
    CNS Photo
    Video
    Video
    Learning Chinese
    Learn About China
    Social Chinese
    Business Chinese
    Buzz Words
    Bilingual
    Resources
    ECNS Wire
    Special Coverage
    Infographics
    Voices
    LINE
    Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
    Copyright ?1999-2018 Chinanews.com. All rights reserved.
    Reproduction in whole or in part without permission is prohibited.
    主站蜘蛛池模板: 丹凤县| 莱芜市| 谷城县| 凤庆县| 上饶市| 维西| 舟山市| 南木林县| 鄂托克前旗| 资兴市| 三台县| 酒泉市| 临夏县| 丽水市| 岳阳市| 黄梅县| 揭阳市| 靖西县| 茌平县| 新建县| 潜江市| 抚远县| 德化县| 永靖县| 田林县| 浦东新区| 祥云县| 原阳县| 常熟市| 湾仔区| 商丘市| 禄丰县| 延庆县| 荣成市| 莱西市| 会宁县| 平陆县| 庆安县| 鄄城县| 嵊州市| 五河县|