Latest news with #ZhongSheng
Hans India
09-07-2025
- Business
- Hans India
China warns Trump on tariffs
Beijing: China warned the Trump administration on Tuesday against reigniting trade tension by restoring tariffs on its goods next month and threatened to retaliate against nations that strike deals with the United States to cut China out of supply chains. Washington and Beijing agreed to a trade framework in June that restored a fragile truce, but with many details still unclear, traders and investors on both sides of the Pacific are watching to see if it will unravel or lead to a lasting detente. On Monday, President Donald Trump began notifying trade partners of sharply higher US tariffs from August 1, after he delayed all but 10% of his April duties on most countries to give them time to strike deals with the world's largest economy. China, initially singled out with tariffs exceeding 100%, has until August 12 to reach an agreement with the White House to keep Trump from reinstating additional import curbs imposed during tit-for-tat tariff exchanges in April and May. "One conclusion is abundantly clear: dialogue and cooperation are the only correct path," the official People's Daily said in a commentary, referring to the exchanges in the current round of China-US trade tension. The article was signed "Zhong Sheng", or "Voice of China", a term the paper uses to express views on foreign policy. Reiterating Beijing's view that Trump's tariffs amount to "bullying", the paper added, "Practice has proven that only by firmly upholding principled positions can one truly safeguard one's legitimate rights and interests." The remarks set the stage for another round of tariff war should Trump stick to what the ruling Communist Party's official daily said was "a so-called 'final deadline.'"
Kuwait Times
08-07-2025
- Business
- Kuwait Times
China threatens US with retaliation on supply chain deals
BEIJING: China warned the Trump administration on Tuesday against reigniting trade tension by restoring tariffs on its goods next month, and threatened to retaliate against nations that strike deals with the United States to cut China out of supply chains. Washington and Beijing agreed to a trade framework in June that restored a fragile truce, but with many details still unclear, traders and investors on both sides of the Pacific are watching to see if it will unravel or lead to a lasting detente. On Monday, President Donald Trump began notifying trade partners of sharply higher US tariffs from August 1, after he delayed all but 10 percent of his April duties on most countries to give them time to strike deals with the world's largest economy. China, initially singled out with tariffs exceeding 100 percent, has until August 12 to reach an agreement with the White House to keep Trump from reinstating additional import curbs imposed during tit-for-tat tariff exchanges in April and May. 'One conclusion is abundantly clear: dialogue and cooperation are the only correct path,' the official People's Daily said in a commentary, referring to the exchanges in the current round of China-US trade tension. The article was signed 'Zhong Sheng', or 'Voice of China', a term the paper uses to express views on foreign policy. Reiterating Beijing's view that Trump's tariffs amount to 'bullying', the paper added, 'Practice has proven that only by firmly upholding principled positions can one truly safeguard one's legitimate rights and interests.' The remarks set the stage for another round of tariff war should Trump stick to what the ruling Communist Party's official daily said was 'a so-called 'final deadline.'' The average US tariff on Chinese exports now stands at 51.1 percent, while the average Chinese duty on US goods is 32.6 percent, with both sides covering all their trade, the Peterson Institute for International Economics said. The paper also took a swipe at regional economies that are considering striking tariff reduction deals with the United States that cut China out of their supply chains. Last week, Vietnam secured a tariff reduction to 20 percent from 46 percent with a deal for goods 'transshipped' through it, typically originating from China, to be subjected to a levy of 40 percent. — Reuters 'China firmly opposes any side striking a deal that sacrifices Chinese interests in exchange for tariff concessions,' the paper said. 'If such a situation arises, China will not accept it and will respond resolutely to protect its legitimate interests.' – Reuters
Time of India
08-07-2025
- Business
- Time of India
Trade war countdown begins: China calls US tariffs ‘bullying', vows payback for supply chain shifts
AI-generated image China on Tuesday warned the Trump administration against reigniting trade tensions by reimposing steep tariffs on Chinese goods next month, signaling it may retaliate against any country that aligns with Washington to cut Beijing out of global supply chains. The warning comes as part of an official commentary published in the ruling Communist Party's mouthpiece, People's Daily, under the pseudonym 'Zhong Sheng,' meaning 'Voice of China.' According to a Reuters report, the article criticized the US tariff strategy, labeling it 'bullying,' and argued that 'dialogue and cooperation are the only correct path.' 'Practice has proven that only by firmly upholding principled positions can one truly safeguard one's legitimate rights and interests,' the piece asserted, setting the tone for a possible re-escalation in trade hostilities, Reuters reported. Trump sets new tariff deadline for August 1 The renewed threat of tariffs follows President Donald Trump's move on Monday to notify several trade partners about sharply higher duties taking effect August 1. The White House had previously delayed most of its April tariffs to give countries time to strike separate deals. China, initially hit with tariffs exceeding 100%, has until August 12 to reach an agreement with the US or risk a reimposition of duties that were introduced during tit-for-tat exchanges earlier this year. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The $69 Heater That's Replacing Central Heating in Australia BlumeHeat Learn More Undo While the two sides agreed in June to a basic trade framework that paused further escalation, key details remain unresolved, leaving investors and traders wary about whether a sustainable agreement can be reached. Tariff war impact: Trade fully covered, rates sky-high According to the Peterson Institute for International Economics, current average US tariffs on Chinese exports stand at 51.1%, while China's duties on US goods average 32.6%. Both countries now effectively have tariffs on all traded goods between them. The People's Daily commentary cautioned that the so-called 'final deadline' set by Trump could backfire, and warned of a renewed trade war if the US proceeds with reinstating the suspended tariffs. China threatens countries siding with US on supply chain shifts In a sharp rebuke to regional economies recalibrating their trade alignments, Beijing also threatened to retaliate against nations entering into supply chain deals with the US that effectively exclude China. Last week, Vietnam struck such a deal, securing a reduction in US tariffs from 46% to 20% on certain goods, with a separate 40% levy applied to Chinese-origin items transshipped through its territory. The People's Daily declared, 'China firmly opposes any side striking a deal that sacrifices Chinese interests in exchange for tariff concessions,' adding that China 'will respond resolutely' to any such moves. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Free Malaysia Today
08-07-2025
- Business
- Free Malaysia Today
China warns Trump on tariffs, threatens retaliation on supply chain deals
The average US tariff on Chinese exports now stood at 51.1%, while China's duties on US goods were set at 32.6%. (Reuters pic) BEIJING : China warned the Trump administration on Tuesday against reigniting trade tension by restoring tariffs on its goods next month, and threatened to retaliate against nations that strike deals with the US to cut China out of supply chains. Washington and Beijing agreed to a trade framework in June that restored a fragile truce, but with many details still unclear, traders and investors on both sides of the Pacific are watching to see if it will unravel or lead to a lasting detente. On Monday, President Donald Trump began notifying trade partners of sharply higher US tariffs from Aug 1, after he delayed all but 10% of his April duties on most countries to give them time to strike deals with the world's largest economy. China, initially singled out with tariffs exceeding 100%, has until Aug 12 to reach an agreement with the White House to keep Trump from reinstating additional import curbs imposed during tit-for-tat tariff exchanges in April and May. 'One conclusion is abundantly clear: dialogue and cooperation are the only correct path,' the official People's Daily said in a commentary, referring to the exchanges in the current round of China-US trade tension. The article was signed 'Zhong Sheng', or 'Voice of China', a term the paper uses to express views on foreign policy. Reiterating Beijing's view that Trump's tariffs amount to 'bullying', the paper added, 'Practice has proven that only by firmly upholding principled positions can one truly safeguard one's legitimate rights and interests.' The remarks set the stage for another round of tariff war should Trump stick to what the ruling Communist Party's official daily said was 'a so-called 'final deadline.'' The average US tariff on Chinese exports now stands at 51.1%, while the average Chinese duty on US goods is 32.6%, with both sides covering all their trade, the Peterson Institute for International Economics said. The paper also took a swipe at regional economies that are considering striking tariff reduction deals with the US that cut China out of their supply chains. Last week, Vietnam secured a tariff reduction to 20% from 46% with a deal for goods 'transshipped' through it, typically originating from China, to be subjected to a levy of 40%. 'China firmly opposes any side striking a deal that sacrifices Chinese interests in exchange for tariff concessions,' the paper said. 'If such a situation arises, China will not accept it and will respond resolutely to protect its legitimate interests.'
Time of India
08-07-2025
- Business
- Time of India
China warns Trump on tariffs, threatens retaliation on supply chain deals
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel China warned the Trump administration on Tuesday against reigniting trade tension by restoring tariffs on its goods next month, and threatened to retaliate against nations that strike deals with the United States to cut China out of supply and Beijing agreed to a trade framework in June that restored a fragile truce, but with many details still unclear, traders and investors on both sides of the Pacific are watching to see if it will unravel or lead to a lasting Monday, President Donald Trump began notifying trade partners of sharply higher U.S. tariffs from August 1, after he delayed all but 10% of his April duties on most countries to give them time to strike deals with the world's largest initially singled out with tariffs exceeding 100%, has until August 12 to reach an agreement with the White House to keep Trump from reinstating additional import curbs imposed during tit-for-tat tariff exchanges in April and May."One conclusion is abundantly clear: dialogue and cooperation are the only correct path," the official People's Daily said in a commentary, referring to the exchanges in the current round of China-U.S. trade article was signed "Zhong Sheng", or "Voice of China", a term the paper uses to express views on foreign Beijing's view that Trump's tariffs amount to "bullying", the paper added, "Practice has proven that only by firmly upholding principled positions can one truly safeguard one's legitimate rights and interests."The remarks set the stage for another round of tariff war should Trump stick to what the ruling Communist Party's official daily said was "a so-called 'final deadline.'"The average U.S. tariff on Chinese exports now stands at 51.1%, while the average Chinese duty on U.S. goods is 32.6%, with both sides covering all their trade, the Peterson Institute for International Economics paper also took a swipe at regional economies that are considering striking tariff reduction deals with the United States that cut China out of their supply week, Vietnam secured a tariff reduction to 20% from 46% with a deal for goods "transshipped" through it, typically originating from China, to be subjected to a levy of 40%."China firmly opposes any side striking a deal that sacrifices Chinese interests in exchange for tariff concessions," the paper said."If such a situation arises, China will not accept it and will respond resolutely to protect its legitimate interests."
