China has warned countries that make deals with the US at the expense of Beijing’s interests, vowing to take countermeasures if they do so. The warning comes amid reports that the US plans to pressure governments into imposing new trade barriers on China.
The Trump administration is seeking exemptions from tariffs for its trading partners in exchange for agreeing to restrict trade with China. Japan and South Korea are set to begin negotiations with the US this week, while India faces a 26% tariff rate if it fails to agree a trade deal.
China’s Commerce Ministry spokesperson said “appeasement” would not bring peace or respect, warning that any country reaching a deal at China’s expense would face retaliation. The comments echo an editorial in state-controlled media that warned the European Union against trying to “appease” the US.
The US has imposed tariffs on Chinese imports since returning to the White House in January, and other countries have also been hit with levies on their goods. However, critics argue that bringing manufacturing back to the US is complicated and could take decades.
As the trade war between China and the US threatens to drag in other nations, Beijing remains resolute in its stance against compromise. With tensions escalating, the global financial markets are bracing for further shockwaves.
Source: https://www.bbc.com/news/articles/cx2708dl9n1o