What's On March 4, 2025 For Crypto?
The Chinese government has firmly rejected the latest plan by United States (US) President Donald Trump to impose an additional 10% tariff on imported goods from the country starting March 4, while accusing him of looking for a scapegoat in the fentanyl smuggling problem.
Beijing also warned that it would not remain silent and would take countermeasures to protect its interests.
"China has repeatedly emphasized that unilateral tariffs violate World Trade Organization (WTO) rules and undermine the multilateral trading system," a spokesman for the Chinese Ministry of Commerce said in a statement on Friday (28/2025), as reported by Reuters.
"Once again, the US threatens to impose additional tariffs. This is a form of shifting blame and avoiding responsibility that is completely unhelpful in solving their own problems," he added.
Trump announced on Thursday that 25% tariffs on goods from Mexico and Canada would take effect Tuesday, along with an additional 10% tariff on imports from China.
The new tariffs are in addition to the 10% tariffs imposed on Feb. 4, signaling a toughening of the White House’s stance toward China ahead of next week’s annual meeting of China’s parliament, where Beijing is expected to announce its top economic priorities for 2025.
“If the U.S. insists on taking this action, China will take all necessary countermeasures to safeguard its legitimate rights and interests,” the Chinese Commerce Ministry said.
The statement made it clear that Beijing will not sit idly by and is preparing a strategy to counter Washington’s economic pressure.