China warns it will respond to US tariff policy

This is Beijing's response to Washington's previous strong threat to impose an additional 50% tariff if China does not withdraw its new tariffs on the US.

In a statement, a spokesperson for China's Ministry of Commerce said the US's "reciprocal tariffs" on China were groundless and a typical "unilateral bullying behavior." The countermeasures China has taken are legitimate and aimed at safeguarding the country's sovereignty, security and development interests, as well as maintaining the normal international trade order. The official stressed that if the US insists on pursuing its own way, China will "respond to the end."

According to the spokesperson of the Chinese Ministry of Commerce, there is no winner in a trade war and there is no way out for protectionism. In addition, China does not accept statements that are threatening or pressuring. Beijing hopes that both sides can properly resolve their differences through equal dialogue on the basis of mutual respect.

Earlier, in a statement on April 7, US time, President Donald Trump announced that he would consider imposing an additional 50% tax on Chinese goods if China did not withdraw its 34% retaliatory tax on US goods. According to the announcement from April 2, the US will impose a total tax of 54% on goods imported from China from April 9, including the 20% tax announced on February 4 and the 35% reciprocal tax.

China’s stock market reacted positively at the opening session of trading on the morning of April 8, with major indexes in Hong Kong, Shanghai and Shenzhen all rising thanks to support from some state funds. The People’s Bank of China (Central Bank) also announced that it would support efforts to stabilize the stock market.