BEIJING, April 30. /TASS/. Beijing will not back down if Washington decides to pursue its tariff war, China's Foreign Minister Wang Yi said at an expanded BRICS foreign ministers’ meeting in Rio de Janeiro.
"China’s response to the trade war is clear and decisive: if you insist on fighting, we will fight to the end, if you are ready for a dialogue, it must be based on respect and equality," the Chinese foreign ministry quoted the country’s top diplomat as saying. "China is protecting not only its national dignity, but also the bright future of the world," according to the minister’s statement released on the ministry’s website.
BRICS should continue observing the main norms of international relations, protecting a multisided trade system, and building a fairer global system of relations," he said "The key question is as follows: do we accept the unipolar hegemonic governing in the world or do we promote an equitable and well-ordered multipolar world?" the minister said. Now that the US is "brandishing its tariff stick across the world," the international community needs to decide whether it is ready "to return to the jungle, where the strong prey on the weak," he added.
On April 2, US President Donald Trump announced the introduction of tariffs on products from 185 countries and territories. Russia is not present on the list. Baseline tariffs of 10% came into force on April 5, while individualized ones became effective on April 9. On April 9, Trump announced suspension of additional import tariffs imposed on a reciprocal basis for a number of countries and territories for 90 days. The White House explained that the pause was related to trade negotiations, adding that during this period, a universal tariff of 10% will be in effect.
The US tariffs on Chinese goods total 145%. In response to action by Trump’s administration, Beijing has raised tariffs on American goods to 125%.