Sun 02 February 2025:

China on Sunday “firmly” opposed the US announcement of a 10% tariff on Chinese exports, vowing to take countermeasures to safeguard its interests.

“China’s position is firm and consistent. Trade and tariff wars have no winners. The US’s unilateral tariff hikes severely violate WTO (World Trade Organization) rules. This move cannot solve the US’s problems at home and more importantly, does not benefit either side, still less the world,” a Foreign Ministry spokesperson said in a statement.

Fentanyl is an issue for the US. In the spirit of “humanity and goodwill,” China has given support to Washington’s response to the issue, said the statement.

At the US request, China announced in 2019 a decision to officially schedule fentanyl-related substances as a class, according to the statement.

“We are the first country in the world to do so. China has conducted counternarcotics cooperation with the US side in a broad-based way,” it said.

The US needs to view and solve its fentanyl issue objectively and rationally instead of threatening others with arbitrary tariff hikes, it maintained.

“Additional tariffs are not constructive and bound to affect and harm the counternarcotics cooperation between the two sides in the future,” it said.

A spokesperson from the Commerce Ministry also said that Beijing is “strongly dissatisfied with this and firmly opposes it.”

“The unilateral imposition of tariffs by the US seriously violates the rules of the WTO. It is not only unhelpful in solving its own problems, but also undermines the normal economic and trade cooperation between China and the US,” according to a statement.

China, it added, it would file a lawsuit with the WTO for the “wrong” US practices, and will take “corresponding countermeasures to firmly safeguard its own rights and interests.”

“China hopes that the US will objectively and rationally view and deal with its own fentanyl and other issues, rather than threatening other countries with tariffs,” it said.

.China urged the US to “correct its wrong practices, meet China halfway, face problems, have frank dialogues, strengthen cooperation, and manage differences on the basis of equality, mutual benefit and mutual respect.”

__________________________________________________________________________

https://whatsapp.com/channel/0029VaAtNxX8fewmiFmN7N22

__________________________________________________________________________

Trudeau says Canada will retaliate

Prime Minister Justin Trudeau said Saturday that Canada has struck back on US tariffs with CAN$155 billion (US$106 billion) in tariffs on American products entering Canada.

“Tonight, I am announcing Canada will be responding to the US trade actions, with 25% tariffs against $155 billion worth of American goods,” Trudeau said at a news conference, following an hours-long meeting with Canada’s provincial premiers.

Trudeau said $30 billion on American goods will take effect Tuesday, the same day as US tariffs. Another $125 billion in goods will have tariffs enacted in a few days.

The list of targeted goods was not provided by the US, but in Canada, Trudeau said some American imports such as alcohol would be affected.

Trudeau said provincial premiers and the federal government are united in the trade war.

“We are united,” Trudeau said. “We will stand tall for Canada.”

But Trudeau said the American tariffs raised a perplexing question in what is now a trade war: Why US President Donald Trump would attack its closest neighbor and ally? Foreign Minister Melanie Joly could not understand it either.

“Canadians have been nothing but the strongest allies and the best neighbours to the United States,” Joly posted Saturday on X. “These tariffs are completely unjustifiable…Canada will not back down.”

-Source: AA

__________________________________________________________________________

FOLLOW INDEPENDENT PRESS:

WhatsApp CHANNEL
https://whatsapp.com/channel/0029VaAtNxX8fewmiFmN7N22