China Strongly Opposes US Reciprocal Tariffs, Vows Retaliatory Measures

(MENAFN- Kuwait News Agency (KUNA)) BEIJING, April 3 (KUNA) -- China strongly objects to the new US announcement of "reciprocal tariffs" imposed on all of its trade partners, vowing to retaliatory measures that served Chinese interest.
The Chinese Ministry of Commerce said that the American decision was against international rules of trade and it was based on Washington's unilateral evaluation, deeming it as an act of "bullying".
The China Central Television (CCTV) said that the US had claimed losses over international trade and decided to impose such tariffs on the pretense of "exchange" ignoring years of balanced interests achieved by multilateral commerce for years.
The decision also ignored the large profits achieved by the US for years, it asserted.
The source affirmed that the US would not be solving any problems via imposing such tariffs, which would threaten economy, industry, and trade around the globe.
The administration of President Donald Trump had imposed a 10 percent tariff on all of its trade partners entering into effect by Friday. Reciprocal tariffs were also imposed more than 60 countries and organizations including China, Japan, and the EU with that coming into effect by next Wednesday.
The tariffs on China would reach 34 percent with Trump imposing a 25 percent tariff on vehicles manufactured in foreign countries. (end)
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