Beijing (Reuters)-China warned the United States on Tuesday against rekindling commercial tension restoring tariffs about their products next month, and threatened to retaliate countries that close agreements with the US to get China out of offering chains.
Washington and Beijing agreed with a commercial structure in June that restored a fragile truce, but without details, operators and investors wait to see if it will crumble or become more lasting.
On Monday, US President Donald Trump began notify business partners on higher rates from 1 August after postponing some fees so that agreements could be closed.
Free tool
XP Simulator
Learn in 1 minute how much your money can yield
China, initially with rates that exceeded 100%, has until August 12 to reach an agreement with the White House and prevent Trump from resuming additional import restrictions adopted in April and May.
“A conclusion is quite clear: dialogue and cooperation are the only correct trajectory,” said People’s Daily newspaper in a comment, referring to discussions in the current round of Sino-American commercial tension.
The article was signed “Zhong Sheng” or “Voice of China”, a term that the newspaper uses to express opinions about foreign policy.
Continues after advertising
Reiterating Beijing’s vision that Trump’s tariffs are equivalent to “intimidation,” the newspaper added: “Practice has proved that only by firmly maintaining positions of principle it is truly possible to protect someone’s legitimate rights and interests.”
The US average rate on Chinese exports is now 51.1%, while China’s average rate on US products is 32.6%, with both sides covering all its trade, the Peterson Institute for international economy said.
