Noting that United States has benefited greatly from free trade but now is using tariffs as a bargaining chip, Chinese Ambassador to India Xu Feihong has said his country is opposed to US decision to impose 50 per cent tariffs on Indian goods and said that “silence or compromise only emboldens the bully”.
Addressing an event in the national capital, the Chinese envoy said his country welcomes all Indian commodities to enter the Chinese market.
China Is Ready to Open Its Market to Indian Products
In an apparent reference to the Trump administration imposing tariffs on different countries, Xu Feihong said that at present, tariff wars and trade wars are disrupting the global economic and trade system.
“Power politics and the law of the jungle are prevalent, and international rules and order have suffered severe impacts,” he said in hard-hitting remarks.
“The Global South is highly concerned about how China and India can strengthen cooperation and take the lead to help developing countries overcome difficulties and safeguard international fairness and justice,” he added.
The Chinese envoy said the essence of trade is to complement each other’s advantages and achieve mutual benefits and win-win results, not a calculation of who loses and who gains, nor should it become a tool for pursuing individual selfish interests.
China Accuses U.S. of Using Tariffs as ‘Bargaining Chip’
“The United States has long benefited greatly from free trade, but now it is using tariffs as a bargaining chip to demand exorbitant prices from various countries. The United States has imposed tariffs of up to 50% on India, and has even threatened more. China firmly opposes it. In the face of such acts, silence or compromise only emboldens the bully,” he said.
Trump announced 25 per cent tariffs on Indian goods in July, even as there were hopes of an interim India-US trade deal that would have otherwise helped avoid elevated tariffs. A few days later, he imposed another 25 per cent tariff, taking the total to 50 per cent, citing India’s continued imports of Russian oil.
Xu Feihong said China will firmly stand with India to uphold the multilateral trading system with the World Trade Organisation at its core.
He said India and China are engaged in discussion on resolution of direct flights. (Inputs From ANI)
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