China invites Trump to return to discussions on the topics: “The market spoke/ USA to make no mistakes”
Guo Jiakun, Chinese MAE Photo spokesman: Johannes Neudecker / DPA / Profimedia
China said on Saturday that the “market spoke” in rejecting the tariffs imposed by former US President Donald Trump and asked Washington to return to “a dialogue on a tie”, after global financial markets reacted negatively to new commercial measures, which have attracted reprisals from Beijing, reports Reuters.
Several Chinese commercial associations, from sectors such as health, textiles and electronics, issued statements on Saturday urging the unit in identifying alternative markets and warned that new rates will amplify inflation in the United States.
“The market spoke,” said the spokesman of the Chinese Foreign Ministry, Guo Jiakun, in a Facebook post, accompanied by an image that illustrates the US stock market collapses.
“The commercial war and the tariffs triggered by the US against the world is unprepared and unjustified. Now it is time for the US to go wrong and end the differences with trading partners through equal footing,” wrote Guo Jiakun.
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Trump has imposed additional rates of 34% on Chinese products, within a wave of extended customs taxes applied to most US commercial partners, which raises the total level of China's rates to 54%.
Also, Trump closed a commercial gate that allowed the US customs duties to be entry into China.
In response, Beijing announced on Friday extensive retrival measures, including additional 34% rates for all American goods and restrictions on the export of rare metals, thus escalating the trade war among the two largest economies.
