In a significant move, U.S. President Donald Trump signed an executive order on Saturday, introducing a new 10 percent tariff on all goods imported from the Chinese mainland. This latest trade protectionist measure adds to the existing tariffs, intensifying the ongoing trade tensions between the two economic giants.
The White House stated that the additional 10 percent tariff aims to protect American industries and align with President Trump's broader protectionist agenda. However, the decision has met with widespread opposition both within the United States and on the international stage.
Chinese Foreign Ministry spokesperson Mao Ning responded by emphasizing that the Chinese mainland has consistently maintained that there are no winners in a trade war or tariff conflict. Mao stressed that China remains steadfast in safeguarding its national interests. Similarly, He Yadong, spokesperson for the Ministry of Commerce, reiterated that China’s stance on the tariff issue is unwavering, highlighting that such measures are detrimental to both the Chinese mainland and the United States, as well as to the global economy.
Beyond the 10 percent tariff on Chinese mainland goods, the executive order also imposes a 25 percent tariff on imports from Mexico and Canada. Specifically, energy products from Canada will face a 10 percent tariff. These comprehensive tariff boosts reflect the administration’s ongoing efforts to address trade imbalances and protect domestic markets.
As the U.S. ramps up its tariff strategy, the global community watches closely, concerned about the potential ripple effects on international trade and economic stability.
Reference(s):
cgtn.com
