Beijing, which imports far fewer goods from the U.S. than it exports, is considering a range of nontariff measures amid growing trade tensions between the world’s two biggest economies.
As President Donald Trump tries to return the U.S. to its manufacturing past, China wants to make its economy more like that of the U.S. by boosting domestic consumption.
“There isn’t one ‘right’ response to Trump’s tariffs,” one analyst says. “China and the E.U. have different geopolitical relationships with the U.S. and different decision-making processes.”
The tussle over two ports on the Panama Canal shows Beijing’s willingness to assert its power as the U.S. attempts to roll back Chinese presence in the Western Hemisphere.
Global markets got momentary relief Tuesday, but China said it would “fight to the end” in an escalating tit-for-tat with the U.S. over Trump’s tariffs.
The Ukrainian president said he had instructed his Foreign Affairs Ministry to immediately contact Beijing and find out “how China is going to react to this.”
Beijing said it will “resolutely” take countermeasures to safeguard its own interests after Trump threatened to impose a new 50% duty on Chinese goods.