‘Appeasement cannot bring peace’: China warns nations not to bow to Trump trade demands
China has warned nations not to bow to President Donald Trump in trade negotiations and promised to fire back if deals come at its expense as the country hits back at tariffs imposed by the US.
The fresh comments follow reports from the Wall Street Journal that the US would use discussions with key trading partners in a bid to isolate China.
Negotiations kicked off last week, after a Japanese delegation visited Washington in the hopes of securing a deal. The UK government is also in trade talks with the White House..
A spokesperson for the Chinese Commerce Ministry said: “Appeasement cannot bring peace, and compromise cannot earn one respect.”
China and the US have locked horns in an intensifying trade war since Trump’s return to the White House.
Following the President’s ‘Liberation Day’ levies, China was slapped with a 145 per cent tariff on imports. Beijing responded with a 125 per cent reciprocal levy.
The US Customs and Border Patrol said days later electronics would be exempt from all tariffs.
This provided a major sigh of relief to tech giants such as Apple, where up to 80 per cent of iPhones intended for US sale are made in China, according to Counterpoint Research.
“China firmly opposes any party reaching a deal at the expense of China’s interests,” the spokesperson added.”
“If such a situation arises, China will not accept it and will resolutely take reciprocal countermeasures. China has the resolve and capability to safeguard its own rights and interests.”
Trump: US suffered ‘decades of abuse’
Trump’s 90-day shock pause on all new tariffs, except those in China, sent markets booming earlier this month.
As the news hit Wall Street, the S&P 500 rallied 9.5 percent and the Dow Jones 7.9 per cent.
The FTSE 100 climbed 312.5 points – a surge of four per cent.
Markets in Asia jumped on Trump’s pivot. Japan’s Nikkei gained over eight per cent and Taiwan’s Taiex over nine per cent.
Meanwhile, the Shanghai index edged up just one per cent as Trump persisted with his relentless trade offensive on China.
The President has suggested nations have rushed to negotiate with the US following the pause. But so far, no deals have been agreed.
In a post on Truth Social on Sunday, Trump said: “Since our announcement of LIBERATION DAY, many world leaders and business executives have come to me asking for relief from tariffs.
“It’s good to see that the world knows we are serious, because WE ARE!”
Trump repeated his claim that the US had been wronged with “decades of abuse” in trade deals.
During his Liberation Day speech, Trump blasted China as one of the “worst offenders”.