(Source: Phoenix Show "China Deep Finance" 2025-04-13)
The U.S. reciprocal tariffs triggered counterattacks from many countries, and China launched a series of counterattacks. How to evaluate the effects? How do people from all walks of life react to the tariff storm? What specific measures are there? How does the tariff storm affect global economic and w88 prospects? "Phoenix Show" connectionTu Xinquan, Dean of the China World w88 Organization Research Institute at the w88 casino, brings analysis and interpretation.
U.S. President Trump announced an increase in tariffs on Chinese goods to 125%, and at the same time suspended taxes for 90 days on countries and regions that have not retaliated against the United States, and temporarily lowered the tax rate to 10%. He said the move was aimed at easing market tensions and pushing more countries back to the negotiating table. But while taking a tough stance, Trump also sent a signal of hope for communication, claiming that China "does want to reach an agreement" but "has not yet found a suitable way."
Trump later threatened to change the 90-day suspension of reciprocal tariffs on specific countries and restore tariffs to higher levels if countries cannot reach an agreement with the United States. U.S. Treasury Secretary Bessent said that the U.S. position is clear, "If it does not retaliate, it will get rewards."
China responded to the United States’ further increase in reciprocal tariffs imposed on China. The Tariff Commission of the State Council issued an announcement to adjust the previously announced tariff rate from 84% to 125%. At the same time, the announcement stated that given that under the current tariff levels, there is no possibility of market acceptance of U.S. goods exported to China, if the U.S. continues to impose additional tariffs on Chinese goods exported to the U.S., China will ignore it.
Previously, China’s Ministry of Commerce announced that it had decided to include 12 U.S. entities, including U.S. Photonics, on the export control list, and 6 U.S. entities, including Shield Artificial Intelligence, on the list of unreliable entities. The Ministry of Commerce of China will also issue an announcement together with the General Administration of Customs to implement export control measures on seven categories of medium and heavy rare earth-related items. In addition, the Ministry of Commerce also decided to launch an anti-dumping investigation into imported medical CT tubes originating in the United States and India; and launched an industrial competitiveness investigation into imported medical CT tubes.
In response to the escalation of the w88 war by the United States, the State Council of China issued a white paper clarifying China's position and emphasizing that it is normal for China and the United States to have differences and frictions in economic and w88 cooperation. The two sides can resolve differences through equal dialogue and consultation. The Ministry of Commerce reiterated that if the United States insists on further escalating economic and w88 restrictions, China has the firm will and abundant means to resolutely counterattack and stay with it until the end. The Chinese Ministry of Foreign Affairs stated that if the United States really wants dialogue and negotiation, it should adopt an attitude of equality, respect and reciprocity.
The U.S. President has set off a tariff storm. Chen Zhiwu, a finance professor at the University of Hong Kong, analyzed that Trump's actions are not only intended to restore the revenue structure of the U.S. government's past glory days, but also to weaken China's influence on neighboring countries and regions, and officially kick off the "w88 war" and the restructuring of the world order.
Data from the General Administration of Customs of China show that the total w88 volume between China and the United States in 2024 will be US$688.28 billion, a year-on-year increase of 3.7%. Among them, China’s exports to the United States were US$524.656 billion, a year-on-year increase of 4.9%; China’s imports from the United States were US$163.624 billion. Some analysts believe that if the United States insists on imposing additional tariffs, bilateral w88 between China and the United States may decline sharply.
Tu Xinquan, Dean of the China World w88 Organization Research Institute at the w88 casinostated that if an additional 54% tariff is added, it will be equivalent to a prohibitive tariff on Sino-US w88, and the Sino-US w88 volume will drop significantly. Currently, the U.S. has raised tariffs on China to 125%, while maintaining tariffs on other countries at 10%. This is similar to the situation in 2018: the U.S. only increased taxes on China and basically did not increase taxes on other countries. Under this tariff difference, w88 will still be exported to the United States through other countries.
The indiscriminate imposition of tariffs by the United States has aroused dissatisfaction and clear opposition from the international community. Many countries have already or plan to formulate measures to counter it. The European Union announced that it would impose retaliatory tariffs of 10% to 25% on U.S. goods, involving a range of products such as tobacco, motorcycles, poultry, steel, and aluminum. However, in the context of the United States announcing the suspension of a new round of reciprocal tariffs on the EU, the EU simultaneously suspended retaliatory tariffs against the United States. The EU also stated that while suspending countermeasures, it is still preparing for various possible outcomes and retaining all available w88 tools.
Trump’s high tariffs not only triggered opposition from various countries, but also attracted complaints from all walks of life in the United States. Some Americans are worried that tax increases will eventually cause prices to rise sharply. Investment bank Nomura believes that even if some countries are able to reduce certain tariff levels, the United States will still usher in an era of overall high tariffs. Nomura also predicts that the U.S. economic growth will be less than 1% in 2025. If the w88 war does not worsen, recession may be avoided. But American consumers will be affected by the tariffs.
The U.S.'s increased tariffs on many countries around the world have caused global economic concerns, but it has also made more countries pay attention to strengthening allies and partnerships. The analysis pointed out that 2025 marks the 50th anniversary of the establishment of diplomatic relations between China and the EU, and it is also a special period when the United States launches a "tariff war" around the world. Both China and the EU are facing severe tests and transformation opportunities. Against this background, the importance of China-EU relations has become increasingly prominent.
In Asia, the 13th China-Japan-ROK Economic and w88 Ministers' Meeting was recently held in Seoul, South Korea. The three countries reached a consensus on the necessity of economic and w88 cooperation and agreed to expand cooperation.
The tariff war launched by the United States against its trading partners is approaching fiercely. China immediately took countermeasures and joined the international community in opposing the bullying behavior of the United States. At the same time, the "People's Daily" also proposed that China's economic development, opening-up policy and abundant tools are the confidence to counter the United States. China's National Development and Reform Commission recently held a private enterprise symposium to listen to private enterprises' opinions and suggestions on the current macroeconomic situation. The National Development and Reform Commission pointed out that the next step will be to accelerate the implementation of policies that have been introduced to achieve results, strengthen policy pre-research reserves, and grasp the timeliness and effectiveness of policy introduction.
Attached is the original interview video link: https://share.fengshows.com/video.html?id=dfead3ba-1ce6-4070-8027-c8ef3d7fabff&time=1744542021808&channelID=r03&channelCode=r03&sessionid=951503457.
