Featured Image Credit: Andrew Harnik/Getty
Topics: China, Donald Trump
Gerrard Kaonga
Donald Trump has doubled down that his tariffs will ultimately benefit Americans and hit out against nations who are unhappy.
Donald Trump certainly ruffled some feathers on April 2 when he unveiled tariffs for many of the US’ allies and trade partners.
Aptly named ‘Liberation Day’, Trump said it would mark the day that American industry was reborn to ultimately make the nation wealthy again.
Some countries got off better than others, but many nations expressed their frustrations and said they would be retaliating against this move by the US.
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China has certainly pushed back against the US’ economic plan.
Trump put an additional 34 per cent tariff on Chinese goods as part of 'Liberation Day', coming on top of two rounds of 10 per cent tariffs already declared in February and March.
Foreign affairs spokesman Lin Jian also recently condemned the US and said this was not good for their relationship.
Speaking to reporters, he said: “Putting the US first over international rules is a typical act of unilateralism, protectionism and economic bullying.
"Pressure and threats are not the way to deal with China. China will firmly safeguard its legitimate rights and interests."
However, Trump seems to consider China one of the worst offenders of an unfair trade relationship with the US.
Speaking on Truth Social, defending the tariffs he said: "Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION, and the long time abused USA is bringing in Billions of Dollars a week from the abusing countries on Tariffs that are already in place.
"This is despite the fact that the biggest abuser of them all, China, whose markets are crashing, just raised its Tariffs by 34 percent, on top of its long term ridiculously high Tariffs (Plus!), not acknowledging my warning for abusing countries not to retaliate.
"They’ve made enough, for decades, taking advantage of the Good OL’ USA! Our past “leaders” are to blame for allowing this, and so much else, to happen to our Country. MAKE AMERICA GREAT AGAIN!"
As part of its retaliatory action, China will add a 34 percent tariff on US goods and this will come into effect on April 10.
The nation has filed a lawsuit with the World Trade Organization (WTO) amid claims that Trump's tariffs 'seriously violates WTO rules'.