Investing.com -- China’s Ministry of Commerce issued a stern warning to countries against striking trade agreements with the U.S. that could undermine its interests, following reports that the Trump administration intends to offer tariff relief in return for curbs on trade with Beijing.
“China firmly opposes any party reaching a deal at the expense of China’s interests,” the ministry said Monday, warning that it would respond “resolutely” with reciprocal countermeasures in such a situation.
China also emphasized its readiness to work with others to oppose challenges and stand against unilateral bullying.
The ministry’s statement comes as dozens of countries call for reductions or exemptions from U.S. trade tariffs. The Trump administration has temporarily lifted trade tariffs for a 90-day period for all nations except China, which has imposed its own retaliatory tariffs in response.
Tariffs on Chinese imports have now climbed to 145% following a series of U.S. actions, while Beijing has responded with retaliatory levies of 125% on American goods. China recently indicated it does not plan to raise its general tariff rates any further.
In the statement, China’s commerce ministry has reiterated its commitment to strengthening partnerships, particularly with Southeast Asia and Europe, to bolster its trade network.
The statement also highlighted the ministry’s view that unilateralism and protectionism are global concerns that no country can ignore.
“If international trade regresses to the law of the jungle where the strong prey on the weak, all countries will end up as victims,” it said.
Highlighting its increasingly tough stance, Beijing plans to convene an informal United Nations Security Council meeting this week, where it will accuse the U.S. of “bullying” and of “casting a shadow over the global efforts for peace and development” through its use of tariffs as a political weapon.