Counterattack来了! China announced to continue increasing the tariff rate on US goods, raising it from 84% to 125%.
However, China also stated that even if the US continues to impose higher tariffs, it will no longer be economically meaningful and will become a laughingstock in the history of world economy. The announcement noted that American goods imported to China have no market acceptance possibility. If the US continues its tariff number game, China will ignore it. (For the full text, please refer to the attached image.)
The essence of the US initiating the tariff war is due to its hegemonic mentality, attempting to curb China's development and maintain its absolute dominant position in the global economic field. However, such anti-globalization actions are destined to fail. With the continuous development of China's economy and the continuous enhancement of its international influence, China's status on the global economic stage becomes increasingly important. China actively promotes the construction of the "Belt and Road Initiative," deepens economic and trade cooperation with countries along the route, and constantly expands new market spaces. At the same time, China is accelerating the development of a new development pattern where domestic circulation plays a leading role, and domestic and international dual circulations promote each other, enhancing the endogenous driving force and risk resistance capability of economic development.
In this tariff game, China does not want to engage in a trade war, but it is not afraid of and firmly counters America's bullying behavior, demonstrating the responsibility and demeanor expected of a major country.
Original source: https://www.toutiao.com/article/1829097367063684/
Disclaimer: The article only represents the views of the author.