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  5. US and China Engage in Trade War Escalation as Tariffs Take Effect

US and China Engage in Trade War Escalation as Tariffs Take Effect

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The Biden administration has announced plans to raise tariffs on Chinese goods worth $18 billion, with lithium-ion batteries making up $13 billion of the total imports. The move has been met with strong condemnation from China's foreign minister Wang Yi, who characterized it as a sign of weakness rather than strength. Wang Yi accused the US of "suppression" and "bullying", stating that some people in the US have lost their sanity in order to safeguard their unilateral hegemony. He also vowed retaliation against the US move. This development marks a shift from 2018, when China responded to Trump-era tariffs with an escalating trade war, as Beijing's response now suggests increased confidence and a willingness to take a strong stand against the US.

  1. Sean Stein
    World Trade Organization
    1. Does China really want to go to the mat fighting over these tariffs?
  2. CN
    Xinhua News Agency
    1. It seems the famous quote applies to China's technology companies.
    2. What does not kill you makes you stronger.
  3. CN
    Wang Yi
    Chinese Ministry of Foreign Affairs
    1. This is the most typical form of bullying in the world today! It shows that some people in the United States have reached the point of losing their minds in order to maintain their unipolar hegemony.
  4. Bernard Yaros
    Oxford Economics
    1. They're not going to up the ante. That's not been their MO [modus operandi] in the past when the US has imposed tariffs.
    2. Tariffs are good politics, even though the economics don't work.
    3. We don't assume the retaliation will be anything disruptive.
    4. These tariffs are very much on the margins, and the impacts on the economy will be a rounding error.

US-China Relations

  1. China Condemns US VP JD Vance for "Ignorant" and "Impolite" Remark
  2. Chinese Premier Calls for Dialogue Over Confrontation in Meeting with US Senator
  3. Xi Jinping to send China vice-president to Donald Trump inauguration

sources

  1. 1.South China Morning Post
  2. 2.The Times of India
  3. 3.Al Jazeera
  4. 4.CNA News
  5. 5.CCTV
  6. 6.New York Times
  7. 7.Xinhua News Agency

perspectives

  1. 1.US Foreign Policy
  2. 2.US under Donald Trump
  3. 3.Chinese Foreign Policy
  4. 4.US-China Relations
  5. 5.China under Xi Jinping
  6. 6.China Claims in South China Sea
  7. 7.Trade Agreement
  8. 8.Political status of Taiwan
  9. 9.Chinese Economy

countries

  1. 1.CanadaCA
  2. 2.ChinaCN
  3. 3.IsraelIL
  4. 4.JapanJP
  5. 5.United StatesUS

organizations

  1. 1.White HouseUS
  2. 2.American Chamber of Commerce
  3. 3.AppleUS
  4. 4.Center for China and Globalization
  5. 5.Council on Foreign Relations
  6. 6.Democratic PartyUS
  7. 7.HuaweiCN
  8. 8.National Bureau of Economic Research
  9. 9.Oxford EconomicsGB
  10. 10.Republican Party
  11. 11.Siena College
  12. 12.TeslaUS

persons

  1. 1.Joe BidenUS
  2. 2.Donald TrumpUS
  3. 3.Wang YiCN
  4. 4.Bernard Yaros
  5. 5.Brad Setser
  6. 6.Janet YellenUS
  7. 7.Sean Stein
  8. 8.Wang Huiyao
  9. 9.Xi JinpingCN

technicals

  1. 1.Rust Belt
US and China Engage in Trade War Escalation as Tariffs Take Effect