China says 'no winners' in tariff tit-for-tats after latest Trump threat of 10%
Business
Chinese foreign ministry spokesperson said Beijing has repeatedly “expressed” its position
BEIJING (Reuters) – China on Wednesday reiterated “there are no winners in trade wars and tariff” tit-for-tats after U.S. President Donald Trump said his administration was discussing a 10% punitive duty on Chinese imports.
Trump explained the reason for the move is because fentanyl is being sent from China to the United States via Mexico and Canada.
Chinese foreign ministry spokesperson Mao Ning at a regular news briefing said Beijing has repeatedly “expressed” its position and that it has “always firmly safeguarded its national interests.”
Trump voiced his latest tariff threats in remarks to reporters at the White House a day after taking office without immediately imposing tariffs as he had promised during his campaign.
Financial markets and trade groups exhaled briefly on Tuesday, but his latest comments underscored Trump's long standing desire for broader duties and a new Feb. 1 deadline for 25% tariffs against Canada and Mexico, as well as duties on China and the EU.
