China has issued a defiant statement to US president Donald Trump as the ongoing trade war between the two nations heats up.
It would appear the both the Chinese and American governments have found themselves locked in an escalating battle to one-up each other in a trade battle which is playing out in front of the entire world.
As things currently stand, the US has slapped a charge of 145 percent on Chinese imports, while China responded earlier today by upping their tariffs on American goods to 125 percent.
The latest escalations have come at the same time as President Trump’s decision to issue a 90-day pause on tariffs for all other nations, after global stock markets sank into the gutter.
And that’s where we’re at, for now.
The US-China trade war is heating up (Getty Stock Images)
Where this whole tit-for-tat saga will end is anybody’s guess but, judging by the latest statements coming from Chinese officials, it would seem the East Asian nation has no plans in bowing down to Trump’s demands.
An excerpt from a letter written for the South China Morning Post by Huang Jingrui, spokesperson for the Office of the Commissioner of the Ministry of Foreign Affairs in Hong Kong referred to Trump as a ‘tariff-wielding barbarian’.
“We must solemnly tell the US: a tariff-wielding barbarian who attempts to force countries to call and beg for mercy can never expect that call from China,” he wrote.
“If the US is truly sincere about starting a dialogue with China on tariff issues, it should immediately correct its wrong practices and adopt the right attitude of equality, respect and mutual benefit.”
As China raises its US tariffs to 125%, the world waits to see what Donald Trump’s next move will be (Kevin Dietsch/Getty Images)
His comments echo that of the Chinese Commerce Ministry, who gave the following statement on Friday: “The successive imposition of excessively high tariffs on China by the US has become nothing more than a numbers game, with no real economic significance.”
Meanwhile Chinese President Xi Jinping has broken his silence for the first time on the matter, stating there are ‘no winners’ in a trade war.
“There are no winners in a trade war, and going against the world will only lead to self-isolation,” he told Spanish Prime Minister Pedro Sanchez on Friday (via CNN).
Meanwhile Chinese President Xi Jinping has spoken out about the ongoing trade war (Ken Ishii – Pool/Getty Images)
According to Chinese state broadcaster CCTV, President Xi added: “For over 70 years, China’s development has relied on self-reliance and hard work — never on handouts from others, and it is not afraid of any unjust suppression.
“Regardless of how the external environment changes, China will remain confident, stay focused, and concentrate on managing its own affairs well.”
According to the BBC, America imports around around $440 billion of goods from China, which accounts for 13 percent of US imports alone.
