China responded to the Trump administration’s impending reciprocal tariffs, labeling them blackmail. The nation stated that the U.S. could expect a counteroffensive.
China also initiated talks with Japan and South Korea about speeding up negotiations for a trilateral free trade agreement among those countries.
Japan and South Korea are among the top auto exporters and steel suppliers to the U.S.
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China issued a brief statement ahead of President Donald Trump’s reciprocal tariff announcement on Wednesday, April 2.
Chinese Foreign Minister Wang Yi appeared on state-run TV, stating that Beijing will retaliate if the U.S. continues to engage in “blackmail” regarding tariffs.
How has the world reacted to the impending tariffs?
“‘America First’ should not be American bullying, and it should not build its own interests on the basis of damaging the legitimate rights and interests of other countries,” Wang said during his address.
China has sought to coordinate its response to the impending tariffs by partnering with American allies Japan and South Korea, The Wall Street Journal reported.
Japanese and Korean officials said they have not yet determined whether to coordinate with China. However, they confirmed that three-way talks were recently held for the first time in five years.
According to reports, those talks centered on supply-chain cooperation and export controls. South Korea’s trade ministry announced it will expedite negotiations for a trilateral free trade agreement.
Japan and South Korea are two of the leading auto exporters and steel suppliers to the U.S. Japan has said it will continue to request exemptions from the American tariffs, while South Korea plans to provide emergency support to its auto industry.
What are the key reasons for the reciprocal tariffs?
Trump imposed an additional 10% tariff on imports from China as the administration demands that China take necessary measures to prevent the flow of chemicals used to produce the dangerous drug fentanyl from reaching Mexican cartels.
The administration also has sought stronger action from China to halt illegal immigration and intellectual property theft.
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