Following sweeping new US tariffs, China’s Foreign Ministry declared that “the market has spoken,” referencing the massive sell-off in US markets. Beijing announced a 34 percent tariff on all US imports starting April 10, intensifying the already heated trade war. The sharp response further fueled investor fears across the globe.
US Stock Markets in Freefall
On Friday, all three major US indexes plunged over 5 percent, triggering a global market rout. The collapse came after President Trump introduced far-reaching new tariffs targeting multiple nations, with China facing the steepest increase. In total, US tariffs on Chinese goods now stand at 54 percent, driven by the so-called “reciprocal tariff” policy.
China Labels Tariff War Unjustified
Guo Jiakun, a spokesperson for China’s Foreign Ministry, posted on Facebook that the US-led tariff war is “unprovoked and unjustified.” Sharing an image of the plunging US market, he reiterated Beijing’s call for resolving disputes through respectful dialogue and mutual consultation. China maintains that escalating tensions will only harm global economic growth.
Beijing Urges Dialogue, White House Silent
While China openly appealed for diplomatic resolution, the US administration remained silent. A White House spokesperson did not respond to media inquiries. Meanwhile, President Trump dismissed the stock market decline, asserting on Truth Social that big businesses were not concerned and that his trade stance would not change.
Global Markets Brace for More Uncertainty
With tensions peaking, markets around the world are bracing for more volatility. Investors fear that the deepening tariff war could trigger inflationary pressures and recession risks. As both economic giants dig in, hopes now hinge on whether cooler heads will prevail and initiate meaningful talks to prevent further global fallout.
