China escalated its rhetoric in a trade battle between the two largest economies in the world on Monday, issuing a strong warning to nations not to negotiate a wider economic agreement with the US at its expense.
China would strongly reject any party reaching a settlement at China’s expense, according to the Chinese Commerce Ministry, but it respects all parties resolving economic and trade problems with the United States through consultation on an equal footing.
Beijing will resolutely and reciprocally take countermeasures if any countries pursued such accords, according to a ministry spokesperson.
The spokesman responded to a news story that claimed the Trump administration was getting ready to urge other nations to restrict trade with China in return for US tariff exemptions.
The spokesperson stated, “Under the pretext of ‘equivalence,’ the United States has abused tariffs on all trading partners while also forcing all parties to begin so-called’reciprocal tariffs’ negotiations with them.”
The ministry asserts that China is eager to fortify its solidarity with all parties and is capable and motivated to protect its own rights and interests.
According to reports, the Trump administration is getting ready to apply monetary sanctions and other pressure on countries requesting tariff exemptions or reductions from the US in order to stop commerce with China.
Earlier this month, US Trade Representative Jamieson Greer stated that about 50 nations had contacted him to talk about President Donald Trump’s steeply higher tariffs.
Since then, there have been a number of bilateral discussions on tariffs, with Indonesia aiming to increase US food and commodity imports and decrease orders from other countries, while Japan is exploring increasing imports of rice and soybeans as part of its discussions with the US.
Remember how Trump halted the historic tariffs he announced on April 2 on dozens of nations, with the exception of China, focusing the greatest charges on the second-largest economy in the world?
In an effort to strengthen regional connections, Chinese President Xi Jinping traveled to three nations in Southeast Asia this week and urged trading partners to resist unilateral intimidation.
“I don’t have any winners.”