Guo Jiakun, a spokesperson for the Chinese Foreign Ministry, has stated that the United States should "stop doing the wrong thing" now. According to Jiakun, “the market has spoken”, after US markets plunged following China’s imposition of a reciprocal 34 per cent tariff on American goods.
In an English Facebook post, Jiakun wrote, "Now is the time for the US to cease its wrongful actions and resolve its differences with trading partners through equal-footed consultation." The post was accompanied by an image of the decline in US markets on Friday. In the meantime, a number of Chinese business associations, which represent sectors like healthcare, electronics, and textiles, issued statements cautioning that the tariffs would exacerbate inflation in the United States and urging unity in the pursuit of alternative markets. On Wednesday, former President Donald Trump announced an additional 34 per cent tariff on Chinese goods, raising the total duties imposed on China this year to 54 per cent.
China swiftly responded by announcing additional 34% duties on all American goods and export restrictions on specific rare earth elements on Friday.
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