China accuses US of economic bullying

China on Monday accused the US of unilateralism, protectionism and economic bullying with tariffs, while calling on representatives of American companies, including Tesla, to “take concrete actions” to resolve the issue.

Putting “America First” over international rules harmed the stability of global production and the supply chain and seriously impacted the world’s economic recovery, Ministry of Foreign Affairs spokesperson Lin Jian told reporters.

Last week, Trump put an additional 34 per cent tariff on Chinese goods as part of “Liberation Day”, on top of two rounds of 10 per cent tariffs already declared in February and March, which Trump said were due to Beijing’s role in the fentanyl crisis.

China and other governments retaliated quickly. China announced its own 34 per cent tariff rate on US goods, mirroring Trump’s tariff rate for China.

On Monday, Beijing struck a note of confidence even as markets in Hong Kong and Shanghai tumbled. The People’s Daily, the Communist Party’s official mouthpiece, had strong words. “The sky won’t fall,” it declared, even if the US tariffs have an impact.

“Faced with the indiscriminate punches of US taxes, we know what we are doing and we have tools at our disposal,” it added.

World