Why It Matters:
The trade war involving the United States and its economic rivals, particularly China, has intensified again since President Donald Trump took office.
The Big Picture:
On Saturday, US President Donald Trump imposed a 25% tariff on imports from Mexico and Canada (10% on Canadian energy), and a 10% additional tariff on China. The measures will come into force on February 4.
What They Are Saying:
"The unilateral tariff hikes by the US seriously violate World Trade Organization rules. It not only fails to address America’s own issues, but it also disrupts normal China-US economic and trade cooperation," the Ministry of Commerce of China said.
The ministry also expressed hope that the US would take an objective and rational approach to its domestic issues, rather than resorting to tariff threats against other countries.
Go Deeper:
Trump's trade war is not limited to China. He has also threatened other countries and regional and international trading bodies with heavy tariffs if they de-dollarize. In addition to threatening Mexico and Canada, Trump has also threatened BRICS members with heavy tariffs on exports from BRICS countries if they de-dollarize.
Beijing to Take Countermeasures on US Tariffs
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