China Warns of Serious Impact from New US Tariffs

The relationship between China and the United States faces a new challenge as the US increases tariffs on $18 billion worth of imports from China. China's Commerce Ministry stated that these tariffs will seriously harm cooperation between the two countries.

China urged the US to reverse its decision and cancel the additional tariffs immediately.

The White House's move, targeting important sectors like electric vehicles, batteries, steel, and critical minerals, comes amidst President Joe Biden's preparations for the upcoming election. The decision also criticizes the previous administration's trade policies.

Under the new tariffs, tariffs on electric vehicles will quadruple to 100 percent this year, and tariffs on semiconductors will rise from 25 percent to 50 percent next year.

These tariffs stem from a review of tariffs imposed during the trade war initiated by the Trump administration, which imposed tariffs on around $300 billion worth of Chinese goods. The Section 301 investigation justified these tariffs, and now the US Trade Representative will assess their impact after four years.

In response, China strongly opposes these actions, condemning Washington's politicization and manipulation of economic and trade issues.

China stressed that these tariffs do not align with the consensus reached between Presidents Xi Jinping and Joe Biden last year. China promises to take strong measures to protect its rights and interests.

The escalation of trade tensions between the world's two largest economies raises concerns about broader implications for global trade and economic stability.