China claimed on Monday that, despite the hardships of the trade war, it has stood on the side of history. Keep in mind that since retaking the president in January, US President Donald Trump has levied a separate 145% tax on certain Chinese imports in addition to a 10% tariff on the majority of US trading partners. China hit American goods with tariffs of its own, this time of 125%.
Beijing is on the right side of history, according to top economic planner Zhao Chenxin, who spoke at a news conference in Beijing where officials pledged more measures to protect China’s faltering economy from the effects of the impasse.
We think you’ll just end up isolated if you reject reality and the world around you. “We can only win the future if we travel with morality and the world,” Zhao stated. He continued by saying that the US bullies and unilateralists make up their own rules and then break them.
U.S. Treasury Secretary Scott Bessent justified Trump’s chaotic tariff policy—which has spooked markets—on Sunday by saying it helps Washington gain strategic leverage by sowing uncertainty.
A number of nations have until July of this year to reach a deal with the United States in order to prevent the imposition of higher, country-specific tariffs.
But Beijing has dismissed US assertions that it is in negotiations with Washington and has pledged to fight the trade war to the bitter end.
Its export-dependent economy has been under pressure for a long time, but the country has admitted that this is the case.
“Policies from outside are getting more intense. “Some export-oriented companies have faced production and operation challenges and had their jobs impacted by the US’s successive high-tariff measures,” stated Yu Jiadong of China’s labor ministry.