China has urged President Trump to reconsider his recent tariff threats, indicating that it is prepared to retaliate if the US president moves forward with implementing 100% tariffs.
During a press conference on Monday, Chinese Foreign Ministry Spokesperson Lin Jian responded to inquiries regarding how China might handle Trump’s tariff threats, which were made in light of the Chinese government’s stricter regulations on certain critical minerals and rare earth elements.
“Instead of acknowledging its mistakes, the United States is threatening to impose excessive tariffs which isn’t a constructive way to interact with China,” Lin stated. He emphasized that China wants the US to correct its misguided actions and adhere to important agreements made during a phone call between the two presidents.
“If the United States continues down this path, China will firmly take the necessary measures to protect its legitimate rights and interests,” he added.
On Truth Social, Trump announced on Friday that he plans to impose 100% tariffs on Chinese products starting November 1st or sooner, intending to replace prior tariffs already in place.
He also mentioned that his administration would enforce export controls on “all kinds of critical software.”
In a tweet, Trump expressed his disbelief regarding China’s actions, stating, “I can’t believe China did something like that, but they did, and the rest is history.”
These threats against China resulted in a significant drop in U.S. stock markets, with concerns about escalating tensions pushing the markets sharply lower.
On Sunday, Trump attempted to ease worries in a post on Truth Social, saying, “Don’t worry about China. Everything will be fine! Our esteemed President Xi Jinping just went through the worst of times. He doesn’t want to panic his country, and neither do I. The US wants to help China, not hurt it!”
According to statistics released on Monday, China’s exports to the United States fell by 27% in September compared to the previous year, even as global export growth hit a six-month peak. This was reported by Chinese customs and noted by various outlets.
In September, China’s global exports increased by 8.3% year-on-year, significantly outperforming the 4.4% increase in August, which was better than what economists had anticipated.
