Beijing – Saba:
China on Friday voiced strong opposition to what it described as "protectionism that harms the interests of all parties," following U.S. President Donald Trump's announcement of new steep tariffs on imports from 69 countries.
Chinese Foreign Ministry spokesperson Guo Jiakun stated during a press briefing that “China firmly and consistently opposes the imposition of these tariffs,” adding that “there are no winners in a tariff war or a trade war.”
According to an executive order signed by President Trump, the new tariffs will take effect in seven days, ranging from 10% to 41%. The affected countries include Canada, Brazil, India, Taiwan, and Switzerland, with the new rates reaching up to 35% on many Canadian goods, 50% on Brazilian imports, 25% on Indian products, 20% on Taiwanese goods, and 39% on Swiss items.
The executive order states that this move is part of the U.S. President’s efforts to reshape the global economy ahead of the deadline he set for negotiating new trade deals.
As for China, the deadline to reach a tariff agreement with the U.S. has been extended until August 12, following preliminary understandings reached between Beijing and Washington in May and June regarding the suspension of elevated tariffs and halting exports of rare earth metals.
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