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Tag: Trade war

Politics

‘What doesn’t kill you makes you stronger,’ China trolls new US tariffs – Times of India

BEIJING: China's measured response to the US move to hike tariffs on $18 billion of Chinese goods from syringes to batteries suggests relations between the world's two largest economies face more frost rather than a fresh firefight over trade. China denounced the Biden administration's action and vowed "resolute measures" to protect its interests. But Beijing's response also suggests a new dynamic - and confidence - compared with 2018 when Trump-era tariffs on $300 billion of Chinese goods touched off an escalating trade war, analysts said. Among the differences between then and now: the Biden White House flagged potential measures to Chinese officials in advance and the tariffs target industries, including EVs and batteries, where the economic impact is limited and Chinese companies' d...
Politics

China says ‘bullying’ tariff hike shows some in US are ‘losing their minds’ – Times of India

BEIJING: A US move to raise tariffs on Chinese goods is a sign of weakness, not of strength, and shows that some in the United States may be "losing their minds", China's foreign minister said on Wednesday, in unusually blunt comments. US President Joe Biden on Tuesday unveiled steep tariff increases on Chinese imports including electric vehicle (EV) batteries, computer chips and medical products, risking an election-year standoff with Beijing as he woos American voters who give his economic policies low marks. China immediately vowed retaliation. "This is the most typical form of bullying in the world today! It shows that some people in the United States have reached the point of losing their minds in order to maintain their unipolar hegemony," Foreign Minister Wang Yi said, according ...