China Urges US to Engage in Dialogue As Global Markets Sink after New Tariffs
TEHRAN (Tasnim) – China’s Foreign Ministry on Saturday urged the United States to resolve trade tensions through “equal-footed consultation,” following a global market selloff triggered by sweeping new tariffs announced by Washington.
China’s Foreign Ministry said on Saturday that “the market has spoken,” after US President Donald Trump unveiled broad new tariffs earlier in the week.
Global stock markets tumbled, with US indexes suffering a second straight day of steep losses on Friday.
The Dow Jones Industrial Average, S&P 500 and Nasdaq all fell by more than 5% amid heightened investor anxiety.
The selloff deepened after China’s Finance Ministry responded by imposing a 34% tariff on all goods imported from the United States, effective April 10.
The move intensified fears of inflation, economic recession, and a slowdown in global growth.
“The market has spoken,” Chinese Foreign Ministry spokesperson Guo Jiakun said in a Facebook post on Saturday.
Sharing an image of the US market slump, Guo wrote, “the trade and tariff war started by the US against the world is unprovoked and unjustified.”
He called on the White House to address disputes with trading partners through “equal-footed consultation.”
A White House spokesperson did not immediately respond to a request for comment from CNBC.
On Wednesday, Trump announced a new round of tariffs as part of his “reciprocal tariff” strategy, including a 10% levy on nearly all countries and significantly higher duties on select nations.
China was specifically targeted with an additional 34% in tariffs, raising the total US tariff rate on Chinese goods to 54%.
Despite the market downturn, Trump appeared unmoved, writing on Truth Social on Friday that “big business” is not concerned about the tariffs and that his “policies will never change.”
