China reaches out to others as Trump layers on tariffs
Trump on Wednesday backed off his tariffs on most nations for 90 days, saying countries were lining up to negotiate.
PTI
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China has refused to seek talks with US, saying it would “fight to the end” in a tariff war
China is reaching out to other nations as the US layers on more tariffs
in what appears to be an attempt to form a united front to compel Washington to
retreat.
Days into the effort, it's meeting only partial success with many
countries unwilling to ally with the main target of President Donald Trump's
trade war.
Facing the cratering of global markets, Trump on Wednesday backed off
his tariffs on most nations for 90 days, saying countries
were lining up to negotiate more favourable conditions.
China has refused to seek talks, saying it would “fight to the end” in a tariff war, prompting Trump to further jack up the tax
rate on Chinese imports to 125 per cent. China has retaliated with tariffs on
US goods of 84 per cent, which took effect Thursday.
China has thus far focused on Europe, with a phone call between Premier
Li Qiang and European Commission President Ursula von der Leyen “sending a
positive message to the outside world.”
That was followed by a video conference between Chinese Commerce
Minister Wang Wentao and EU Commissioner for Trade and Economic Security
Sefcovic on Tuesday to discuss the US “reciprocal tariffs.”
Wang has also spoken with the 10-member Association of Southeast Asian
Nations, while Li, the premier, has met with business leaders. China has
“already made a full evaluation and is prepared to deal with all kinds of
uncertainties, and will introduce incremental policies according to the needs
of the situation,” Xinhua quoted Li as saying.
Despite their unhappiness with Washington, not all countries are
interested in linking up with China, especially those with a history of
disputes with Beijing.
“We speak for ourselves, and Australia's position is that free and fair
trade is a good thing," Australian Prime Minister Anthony Albanese told
reporters. “We engage with all countries, but we stand up for Australia's
national interest and we stand on our own two feet.”
India has also reportedly turned down a Chinese call for cooperation,
and Russia, typically seen as China's closest geopolitical partner, has been
left out of the Trump tariffs altogether. Taiwanese Foreign Minister Lin
Chia-lung said on Wednesday that his government is preparing for talks on
tariffs with the US.
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