BEIJING, April 22. /TASS/. The US overestimated its own power when it started demanding that other countries limit trade with China in exchange for tariff exemptions, the authors of the Chinese Global Times newspaper believe.
"Despite leveraging its advantage as the largest consumer market, the US intends to coerce and manipulate dozens of negotiating parities with both threats and inducements, these parities clearly see how the US has repeatedly broken its promises and gone back on its word; they also clearly see how China has firmly opposed hegemony and defended fairness. This time, the US has dangled the bait of 'tariff exemptions', demanding that its trade partners limit trade with China. In doing so, it has overestimated its own power, underestimated China, and misjudged the situation," says an editorial of the publication.
Washington's blatant coercion of negotiating parties to "pick sides" and its open attempt to contain and isolate China lay bare its arrogant and hegemonic intentions, representing a blatant defiance and disruption of the global economic and trade order, the paper wrote. "China's response is not only to safeguard its national interests and dignity but also to stand up in defense of the international economic and trade order as well as international fairness and justice. At the same time, China's stance is clear: international trade must never revert to the 'law of the jungle', where the strong prey on the weak. All parties must contribute to preserving this vital international trade order," according to the publication.
"Meanwhile, China is the 'stabilizing anchor' of the world economy and global production and supply chains, and decoupling from China is tantamount to voluntarily abandoning this open and opportunity-filled market, which will only lead to gradual marginalization of themselves in the wave of global economic development. Therefore, the US' attempt to 'cut off' China's economic and trade ties with the world is like 'eating soup with a fork' and will inevitably end in failure," the newspaper said.
On April 2, US President Donald Trump announced the introduction of tariffs on products from 185 countries and territories. On April 9, he announced suspension of additional import tariffs imposed on a reciprocal basis for a number of countries and territories for 90 days. The White House explained that the pause was related to trade negotiations, adding that during this period, a universal tariff of 10% will be in effect. Concurrently, the US president raised tariffs on Chinese products to 125%. Considering the rate of 20% imposed earlier for allegedly inefficient efforts by governments of Canada, China, and Mexico in their fight against the fentanyl smuggling, the tariff on goods from China currently totals 145%.