TAIPEI, Taiwan – U.S. President Donald Trump’s higher tariffs on 60 countries which he deems the “worst offenders,” including 104% duties on China, took effect on Wednesday, sending governments racing to negotiate reductions.
The U.S. and China are locked in a tit-for-tat trade battle that threatens to slow the global economy. The latest round of additional U.S. tariffs on China took effect after Beijing refused to meet Trump’s deadline to withdraw its own retaliatory levies on American goods.
Trump upended the global trade status quo last week, imposing a universal 10% tariff on all imports, effective April 5, and additional tariffs on dozens of countries deemed to have unfair trade practices, effective Wednesday.
Speaking at a Republican Party dinner Tuesday, Donald Trump said the tariffs were “going to be legendary, in a positive way.”
“Many countries … have ripped us off left and right, but now it’s our turn to do the ripping,” he said.
In response to a 34% U.S. tariff on Chinese exports, Beijing last week imposed a matching tariff on U.S. goods, which prompted Trump to retaliate this week with another 50% tariff on China. Earlier in the year, the U.S. had imposed a 20% tariff on China, which it said was in response to fentanyl trafficking.
Trump has described the tariffs as “somewhat explosive” and “amazing,” claiming that import tariffs were already generating “almost US$2 billion a day” for the U.S.
China’s foreign ministry reiterated Wednesday that Beijing will take “resolute and forceful” measures to protect its own interests, after net total tariffs of 104% on Chinese exports to the U.S. took effect.
“If the U.S. genuinely wants to resolve the problem through dialogue and negotiation, it should show an attitude of equality, respect and mutual benefit,” foreign ministry spokesperson Lin Jian said at a regular press briefing.
Echoing the commerce ministry’s comments on Tuesday, Lin said that “if the U.S. insists on fighting a tariff war and a trade war, China will “definitely fight to the end.”
Separately, China’s state-run Xinhua News Agency cited an unnamed official with the Ministry of Commerce as saying that Beijing hoped the US will “immediately remove its unilateral imposition of tariffs, and work with China to strengthen dialogue, manage differences, and promote cooperation.”
“Beijing is willing to address the respective concerns of the sides through dialogue and consultations on an equal footing, and jointly advance the steady, healthy and sustainable development of China-U.S. economic and trade relations,” Xinhua reported.
World leaders have rushed to negotiate, scheduling phone calls and sending delegations to Washington.
Many governments, including Vietnam and Taiwan, have offered concessions in hopes of avoiding the tariffs.
Trump said that 70 had approached the U.S. and that officials would begin talks with South Korea and Japan.
Stocks slumped in Asia on Wednesday, adding to the losses that have mounted in markets around the world since Trump announced the latest round of tariffs last week.
Edited by Stephen Wright.
This content originally appeared on Radio Free Asia and was authored by Taejun Kang for RFA.