China has called on America to roll back the tariffs imposed by US President Donald Trump, following the landmark decision by the US Supreme Court. Last week, the court had ruled six to three that Trump lacked the authority under a 1977 law to levy sudden tariffs on individual countries, a move that had disrupted global trade. In response, Trump announced a new 10% global duty on imports under a different legal provision, which he later raised to 15% on Saturday. The new tariffs are set to take effect on Tuesday and will remain for 150 days, with exemptions for some products.
“China urges the United States to cancel its unilateral tariff measures on its trading partners,” China’s commerce ministry said in a statement on Monday. “There are no winners in a trade war and that protectionism leads nowhere.” The ministry added that it was conducting a “comprehensive assessment” of the ruling’s impact.
The Chinese foreign ministry also said it was monitoring US plans to maintain increased tariffs. “The United States is currently planning alternative measures such as trade investigations in order to maintain increased tariffs on trading partners. China will continue to pay close attention to this and resolutely safeguard China’s interests,” it said.
The warning comes weeks ahead of Trump’s planned visit to China, his first during his second term. US Trade Representative Jamieson Greer has said the April meeting between Trump and Xi is “not to fight about trade.”
The Supreme Court ruling marked a major setback for Trump, striking down a signature economic policy and challenging his authority on trade. Several countries are reviewing the decision and Trump’s subsequent tariff announcements. Greer confirmed on Sunday that trade agreements with China, the European Union, and other partners will remain in force.
In December, US trade officials had threatened tariffs on the semiconductor industry after labelling Beijing’s practices “unreasonable.” Beijing opposed the move, accusing Washington of using tariffs to “unreasonably suppress Chinese industries,” though the measures will now be delayed until June 2027.
The TOI Business Desk is a vigilant and dedicated team of journal...
Read MoreThe TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.
Read Less
Start a Conversation
Post comment