The Chinese Embassy in the United States has made a bold declaration, asserting that China is prepared to retaliate against U.S. tariffs, which they perceive as a threat to their national interests. The announcement comes in response to the United States' recent decision to impose tariffs on Chinese goods, a move that has escalated tensions between the two global powers.
The social media post from the Chinese Embassy stated that the U.S. decision leaves China with no alternative but to respond decisively. Lin Jian, the spokesperson for China's Foreign Ministry, criticized the rationale behind the U.S. tariffs, dismissing it as a "flimsy excuse." Lin emphasized the need for the United States to abandon its domineering stance and return to constructive dialogue and cooperation.
"If war is what the U.S. wants, be it a tariff war, a trade war or any other type of war, we're ready to fight till the end." – Chinese Embassy in the U.S.
President Donald Trump defended his administration's actions, framing the tariffs as part of an effort to rejuvenate American prosperity and strength. He acknowledged potential disruptions but maintained confidence in the long-term benefits.
"Tariffs are about making America rich again and making America great again. And it's happening, and it will happen rather quickly." – Donald Trump
Commerce Secretary Howard Lutnick indicated that negotiations with Mexico and Canada might soften some aspects of the tariff policy. Lutnick suggested that compromise agreements could be announced imminently, involving a potential rollback of the new 25% levies on goods from these neighboring countries.
"And the President is listening because, you know, he's very, very fair and very reasonable. So I think he's going to work something out with them." – Howard Lutnick, Commerce Secretary
In response to the tariffs imposed on Canadian goods, Canada's ambassador to the World Trade Organization, Nadia Theodore, revealed that Ottawa has initiated consultations with the WTO regarding what they consider unjustified tariffs. Theodore expressed disappointment in the outcome and urged the U.S. administration to reconsider its stance.
"The U.S. decision leaves us with no choice but to respond to protect Canadian interests." – Nadia Theodore, Canada's ambassador to the WTO
The financial markets have reacted negatively to these developments. The Dow, S&P 500, and Nasdaq Composite experienced a collective slide of approximately 3% over Monday and Tuesday's trading sessions. However, stock futures showed signs of recovery on Wednesday morning amid growing hopes for a compromise on Trump's tariff policy.
"Both the Mexicans and the Canadians are on the phone with me all day today, trying to show that they'll do better." – Howard Lutnick, Commerce Secretary