China will next week meet with the United Nations Security Council to discuss the United States’ imposition of additional tariffs as the trade war escalates.
Depending on the type of product being imported, the tariff rate on Chinese imports can be as high as 245 per cent following President Donald Trump’s order.
This week, Chinese companies, including Shein and Temu, issued separate statements to inform customers to expect price adjustments in the coming days.
The White House maintains that China caused the extraordinary tariff hike it now faces because Beijing chose to double down after President Trump’s initial directive.
On Thursday, the Chinese Ministry of Foreign Affairs accused the U.S. of disregarding the balance of interests reached through multilateral trade negotiation.
The spokesperson, Lin Jian, stated that the American government had abused tariffs under the pretext of seeking reciprocity and fairness.
Jian said the action deals a heavy blow to the global economic order and the multilateral trading system, and undermines the interests and well-being of all countries.
“Such act of unilateralism, power politics and bullying has also brought unprecedented difficulties and challenges to the United Nations and the cause of multilateralism,” he said.
China’s meeting with the UN Security Council, according to Jian, will help the body to “gain a deeper understanding of the harms of unilateralism and bullying acts,” and reaffirm the commitment to multilateralism.
