Chinese representative criticizes Trump's tariffs, referring to them as an ‘echo of Great Depression’
Beijing's ambassador to the United States has advocated for a yin and yang approach to Sino-American relations, emphasizing the importance of balanced interactions. At an event in Washington centered on Traditional Chinese Medicine, China’s...
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Beijing's ambassador to the United States has advocated for a yin and yang approach to Sino-American relations, emphasizing the importance of balanced interactions.
At an event in Washington centered on Traditional Chinese Medicine, China’s envoy Xie Feng warned against repeating the mistakes of the 1930s that contributed to the Great Depression, urging for peaceful coexistence while cautioning that China stands ready to retaliate amid the ongoing trade war.
The current tariff standoff is part of a wider US initiative targeting various nations. Although Washington has temporarily paused some elevated tariffs for 90 days, China was not included in this reprieve, resulting in a total tariff increase on Chinese goods to 145%.
In retaliation, Beijing has imposed 125% tariffs on American imports and restricted exports of crucial minerals needed for high-tech production.
Xie indicated that the escalating import duties could disrupt the global economy, drawing parallels to the US tariff policies of the 1930s. The spokesperson detailed that these policies, particularly the Smoot-Hawley Tariff Act, are believed to have exacerbated the Great Depression by significantly reducing global trade.
“You can’t just treat a headache by just focusing on the head, or foot pain by only targeting the feet,” Xie articulated, highlighting the importance of addressing root causes instead of merely symptoms. He further emphasized that it is unwise to prescribe medicine to others when one is in need of healing.
He reflected on previous US protectionist measures and reiterated the necessity for the world’s two largest economies to embrace “peaceful coexistence” instead of engaging in confrontation, encouraging mutual support rather than falling into a detrimental lose-lose situation.
Ambassador Xie conveyed China’s opposition to the trade war and affirmed that the country would respond with measures against any nation that imposes tariffs. Meanwhile, US President Donald Trump recently mentioned that discussions with Chinese officials are ongoing, indicating positive communications between the two nations.
Navid Kalantari for TROIB News
At an event in Washington centered on Traditional Chinese Medicine, China’s envoy Xie Feng warned against repeating the mistakes of the 1930s that contributed to the Great Depression, urging for peaceful coexistence while cautioning that China stands ready to retaliate amid the ongoing trade war.
The current tariff standoff is part of a wider US initiative targeting various nations. Although Washington has temporarily paused some elevated tariffs for 90 days, China was not included in this reprieve, resulting in a total tariff increase on Chinese goods to 145%.
In retaliation, Beijing has imposed 125% tariffs on American imports and restricted exports of crucial minerals needed for high-tech production.
Xie indicated that the escalating import duties could disrupt the global economy, drawing parallels to the US tariff policies of the 1930s. The spokesperson detailed that these policies, particularly the Smoot-Hawley Tariff Act, are believed to have exacerbated the Great Depression by significantly reducing global trade.
“You can’t just treat a headache by just focusing on the head, or foot pain by only targeting the feet,” Xie articulated, highlighting the importance of addressing root causes instead of merely symptoms. He further emphasized that it is unwise to prescribe medicine to others when one is in need of healing.
He reflected on previous US protectionist measures and reiterated the necessity for the world’s two largest economies to embrace “peaceful coexistence” instead of engaging in confrontation, encouraging mutual support rather than falling into a detrimental lose-lose situation.
Ambassador Xie conveyed China’s opposition to the trade war and affirmed that the country would respond with measures against any nation that imposes tariffs. Meanwhile, US President Donald Trump recently mentioned that discussions with Chinese officials are ongoing, indicating positive communications between the two nations.
Navid Kalantari for TROIB News
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