BANGKOK — On Monday, China publicly criticized the United States for its approach towards tariffs, labeling it as unilateralism, protectionism, and economic bullying. China urged American companies, including Tesla, to engage in meaningful actions to help resolve the ongoing tariff dispute.
Ministry of Foreign Affairs spokesperson Lin Jian expressed concerns about the U.S.’s “America First” strategy, stating it undermines global production stability and the supply chain, and disrupts economic recovery worldwide. This critique comes after President Trump recently increased tariffs on Chinese goods by 34%, building upon previous hikes earlier this year. The tariffs, according to Trump, aim to address issues tied to China’s contribution to the fentanyl crisis. In retaliation, China announced similar tariffs on American products.
Despite a decline in Hong Kong and Shanghai markets, Beijing maintained a positive stance. The People’s Daily, a prominent government publication, assured that U.S. tariffs, though impactful, do not spell disaster. “Faced with the indiscriminate punches of U.S. taxes, we know what we are doing and we have tools at our disposal,” the publication stated.
Last Friday, China revealed a set of retaliatory measures against Trump’s tariffs. These include suspending certain imports from American companies and implementing stricter export rules on rare earth materials, used in critical technologies. Additionally, China lodged a complaint with the World Trade Organization over these tariff disputes.
There are currently no confirmed plans for a meeting between Chinese leader Xi Jinping and President Trump to address the tariffs. When asked, Lin redirected inquiries regarding any potential meeting to other governmental departments.
“Pressure and threats are not the way to deal with China,” Lin asserted, emphasizing that China will protect its rightful interests. Nonetheless, over the weekend, Chinese officials engaged in discussions with representatives from numerous American companies, such as Tesla and GE Healthcare.
Ling Ji, a vice minister of Commerce, addressed the core of the tariff issue during a meeting with 20 American businesses. “The root of the tariff problem is in the U.S.,” he said, urging American companies to tackle the problem fundamentally. Ling encouraged cooperation to ensure global supply chain stability and reassured that China would remain welcoming to foreign investment.
In Hong Kong, Financial Secretary Paul Chan dismissed the idea of taking drastic measures despite market volatility, assuring that Hong Kong would continue to operate as a free port. Following a 13.2% drop in the city’s stock market, Chan stated the market operations remained orderly, though U.S. tariffs, coupled with global responses, could induce further capital movement fluctuations.
Chan criticized the new U.S. tariffs as unnecessarily aggressive, arguing they have disrupted global supply chains and adversely affected global economic recovery. While Hong Kong operates separately from mainland China under a semi-autonomous status since its return from British rule in 1997, these tariffs highlight its interconnectedness with broader geopolitical economic shifts.