China Slams US Tariffs: China’s Commerce Minister Wang Wentao has raised concerns about new US tariffs, saying they could cause serious damage to developing and poor countries. He expressed these views during a phone call with the World Trade Organization (WTO) chief Ngozi Okonjo-Iweala.

China Slams US Tariffs: Tensions between the United States and China have been rising due to a series of tariff increases. Both countries have imposed higher taxes on each other’s goods, sparking fears of a trade war. These developments have made global markets unstable causing stocks to drop and prices to rise.

Minister Wang explained that the US’s reciprocal tariff strategy is particularly harmful to the world’s poorest countries. He warned that these actions could even lead to a humanitarian crisis. He criticized the US for repeatedly introducing new tariffs which has created uncertainty and unrest not just globally but also within the US.

Recently China announced that it would apply 125% tariffs on American goods starting Saturday. This move came as a response to the 145% tariffs placed by the US on Chinese imports. China also said it would no longer find it economically worthwhile to import goods from America and planned to challenge the US at the WTO. Chinese officials dismissed the US moves as political tactics with no real purpose.

The ongoing tariff battle has affected global financial markets. Stock values have been fluctuating, gold prices are rising, and US government bonds are under pressure. Trade between China and the US is significant, with Chinese exports to the US totaling over $500 billion in the past year.

How Donald Trump Reacted

Despite these tensions, former US President Donald Trump insisted that the tariff policy was successful. He also postponed some of the tariffs on other trade partners for 90 days, following a major loss in global market value. The White House said Trump was hopeful about reaching a deal with China and mentioned that 15 other countries were also in talks.

Meanwhile Taiwan has started its own tariff talks with the US. The country’s leaders hope to reduce the current 10% tariffs and protect their exports. Taiwan’s trade surplus with the US was around $74 billion last year, mostly from tech products like semiconductors.

What’s Next?

The tariff war between these major economies continues to create uncertainty in the global trade system, affecting not only powerful nations but also poor and developing countries around the world.

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