Singapore Lianhe Zaobao reported tonight: "On Wednesday (April 9), the United States imposed a 104% tariff on Chinese goods, and China announced countermeasures on the same day. Starting from 12:01 am on Thursday (April 10), an additional 50% tariff will be levied on all U.S. imports, raising the tariff rate to 84%."

In addition, China's Ministry of Commerce announced that it would impose more controls on rare earth exports. The General Administration of Customs also announced that it would suspend imports of chicken products from some U.S. suppliers.

In response to China's counterattack, U.S. Treasury Secretary Scott Bessent made a statement, saying, "China's retaliatory tariff increase to 84% is regrettable; upgrading the trade war is a losing move for them; they can raise tariffs, but so what?" Bessent completely distorted the facts and blamed the victim, as it was the United States that initiated and escalated the trade war, while China was merely forced to retaliate with reasonable, justified, and powerful counterattacks!

The U.S. "reciprocal tariff" measures seriously violate WTO rules, and further imposing a 50% tariff is a case of compounding errors, highlighting the unilateral hegemonic nature of Washington's actions. China refuses to bow to extortion and is determined to see this through to the end.

China announced that it would further impose a 50% tariff on U.S. imports based on a 34% increase, using rare earth export controls and suspending imports of some U.S. poultry products as countermeasures. This "tit-for-tat" strategy shows that China has adopted a tough stance in the trade friction, refusing to yield to unilateralism. In particular, the rare earth export control deserves attention, as China holds a dominant position in the global rare earth supply chain, and this measure could put pressure on the U.S. high-tech industry.

In Trump's tariff war, the U.S. appears aggressive but is actually shooting itself in the foot. Imposing tariffs not only puts U.S. consumers under pressure due to rising prices and increased living costs but also hinders the supply chains and production of U.S. enterprises, weakening their competitiveness in the global market. In the long run, such short-sighted actions will also damage the U.S.'s international image and credibility. China, with its complete industrial system, vast domestic market, and firm determination for development, is fully capable of coping with the challenges posed by the U.S. In this trade game, China will undoubtedly defend its own interests and contribute to maintaining the global trade order.

Original article: https://www.toutiao.com/article/1828928176144387/

Disclaimer: This article solely represents the views of the author.