GENEVA: In order to defuse the Trumps’ Tariffs War, Vice Premier of China He Lipeng and US Treasury Secretary Scott Bessent held talks here Saturday (10th May, 2025).
Beijing had agreed to engage with Washington when it had signalled possible policy adjustments. It is pertinent to mention here that Trump’s Tariffs War has affected the supply chain drastically besides unsettling the financial markets the world over.
In order to revitalise shipbuilding industry in the US and to end the dominance of USA in the field, Trump administration is set to collect fees from Chinese vessels docking at American Ports. According to details operators and owners of Chinese ships will have to pay fifty dollars for each ton of cargo. This levy will augment yearly for next three years. Responding to the Trumpian port fee, a Chinese Foreign Ministry said that the move will not revive the shipbuilding industry of USA, but raise prices for the consumers.
In order to handle the augmenting Sino-American tariffs war, China on 16th April had appointed 58-year-old Li Chenggang (a former assistant commerce minister during Trump’s first administration) as its new trade negotiator. It is pertinent to mention here that in response to Trump’s tariffs imposed on it, China is pursuing a hardline stance. Interestingly, commenting on President Xi Jinping’s visits to South Asia in order to further ameliorate trade terms, Trump said the tour was a chance to screw the US. Earlier, on 15th April, Trump, pointing towards China’s retaliatory measures, signed an executive order increasing tariffs on Chinese imports to 245%.
Savants at the helm of affairs say that seven rare minerals, (that China dominates – both mining and processing means) will play a key role during the tariffs war. These minerals are not only used to power iPhones and electric vehicles, but are utilized in the cutting-edge technology – from fighter planes to nuclear reactor rods. Trump could not retaliate by tariffs if these processed metals are not provided by China to the US manufacturers.
Chinese Foreign Ministry Spokesman Lin Jian stated: “If the US really wants to resolve the issue through dialogue and negotiation, it should stop exerting extreme pressure, stop threatening and blackmailing, and talk to China on the basis of equality, respect and mutual benefit…China’s position has been very clear. There is no winner in a tariff war or a trade war…China does not want to fight, but it is not afraid to fight.”
Newspakistan.tv
