Chinese Trade Minister Wang Wentao has emphasized that the ongoing imposition of tariffs by the US administration will significantly harm developing nations and could potentially trigger a “humanitarian crisis,” according to Bloomberg.
This statement was made during a video conference with Ngozi Okonjo-Iweala, the director-general of the World Trade Organization, on Friday.
Wang articulated that China’s “decisive countermeasures” aim to uphold fairness and combat what he referred to as trade “bullying” from the US government.
He further cautioned that the most vulnerable nations are the ones being most adversely affected by US tariffs.
In recent days, the trade conflict between the United States and China has intensified.
Earlier this month, the Trump administration raised tariffs on imports from China, escalating the existing trade dispute between the two countries.
Trump subsequently revealed a staggering 125% tariff on Chinese merchandise, citing China’s “disregard” for equitable trade practices.
Additionally, a 20% “fentanyl tariff” was instituted on certain imports, pushing the cumulative tariffs on Chinese items to 145%.
In response, China has increased tariffs on US imports from 84% to 125%, with the new rates taking effect today.
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