President Donald Trump’s relentless pressure on imports by imposing objectionable level of tariffs has triggered a series of counter threats from countries and criticism from trading partners.
China has made it clear that they won’t act like a bystander while Trump makes such impactful decisions.
In response to the controversy surrounding the U.S. president’s announcement of tariffs on steel and aluminum, Zhang Yesui, a spokesperson for China's National People's Congress, has warned if there is a possibility of China's economy getting hurt, they won’t sit idly by.
While mentioning China is not looking for a trade war, Yesui added China will take “necessary measures” to guard their interests.
He also believes it is inevitable that "some friction will exist" between the U.S. and China, considering the volume of trade between them.
"The American action to put sanctions on other countries' reasonable steel and aluminum exports in the name of harming national security is groundless," Chinese Foreign Minister Wang Yi told the state-run China Business Journal.
On the contrary, Trump believes “trade wars are good."
Trump seems to be oblivious to the uproar that was unleashed in the wake of his threat to impose a tax on EU-made cars.
The president is aiming to end an "$800 billion dollar (sic) yearly trade deficit” through his unpopular measures:
The United States has an $800 Billion Dollar Yearly Trade Deficit because of our “very stupid” trade deals and policies. Our jobs and wealth are being given to other countries that have taken advantage of us for years. They laugh at what fools our leaders have been. No more!— Donald J. Trump (@realDonaldTrump) March 3, 2018
The International Monetary Fund and World Trade Organization highly disapprove of the president’s decision.
On the other side of the border, Canada has said the U.S. will also suffer the adverse effects of the tariffs. Prime Minister Justin Trudeau said he was "confident we're going to continue to be able to defend Canadian industry."
EU trade chiefs are reportedly considering a retaliatory move by placing 25 percent tariffs on around $3.5 billion of imports from the U.S., targeting iconic American exports, including Levi's jeans, Harley-Davidson motorbikes and Bourbon whisky.
Brazil, Mexico and Japan are also gearing up for a counterattack in case the president goes ahead with his plans.
The Trump-endorsed trade war is also not popular among his devoted Republican colleagues, who are urging the president to reconsider his tariff proposals.
Banner/Thumbnail Credits: Reuters