China will resolutely adopt countermeasures against US 'reciprocal tariffs': commerce ministry

President Trump walked into the Rose Garden and detonated the most aggressive trade shock the market's seen in decades

Stephen Innes of SPI Asset Management said

This won’t necessarily be limited to tariff increases. It could also include measures to make life more difficult for US companies that depend on the China market,

Olson said

I do think that in these circumstances, the best way for Beijing to react is to do some retaliation and boost the economy,

said Guo Shan, partner and research economist at Hutong Research, who also noted

It will definitely slow the (parcel screening) process and exporters will probably see their packages being stopped at the border for investigation for a very long time,

said Guo

Rerouting Chinese exports may fail in countries like Vietnam, where exports were previously rerouted in part, and are (now) also being hit hard,

said Josef Gregory Mahoney, professor of politics and international relations at East China Normal University

Given how high tariffs already are, virtually every industry will be impacted, but those already struggling with negative profit growth recently will bear the brunt,

said EIU’s Su, who said

These tariffs make a deal quite difficult because any exchange right now will be seen as a political compromise from Beijing’s side,

she said

Given the high level of tariffs aimed at the mainland and Taiwan, as well as other East Asian, Southeast Asian and South Asian economies, Beijing sees this as a broad strategic opening to improve ties and further integrate Asian economies,

he said

They need to be strong and precise, while also avoiding turning the countermeasures into a decoupling of China and the United States,

Mei added

This trade war not only has a destructive impact on China but also on the global trade system,

Chen Wenling, Chief Economist at the China Center for International Economic Exchanges in Beijing, said

US imports from China are dominated by capital goods and industrial materials instead of consumer goods,

Gene Ma, Head of China Research at the Institute of International Finance, told AFP

There are still chances for the two parties to resume talks in the following months,

Betty Wang at Oxford Economics told AFP

China's countermeasures should be reasonable, beneficial and measured,

Mei Xinyu, an economist at the state-affiliated Chinese Academy of International Trade and Economic Cooperation in Beijing, told AFP

The US tariffs on Chinese imports announced so far this year could fully negate the lift from the fiscal stimulus measures announced so far,

Frederic Neumann, Chief Asia Economist at HSBC, told AFP

China firmly opposes the US ‘reciprocal tariffs’ and will resolutely adopt countermeasures to safeguard its rights and interests,

a ministry spokesperson said following Trump’s announcement

China’s opposition to the imposition of additional tariffs has always been consistent and clear,

Liu stated

China believes that protectionism leads nowhere, and trade and tariff wars have no winners,

The South China Morning Post quoted Liu as saying

We’re going to be charging a discounted reciprocal tariff of 34 per cent,

he said while addressing the press from the White House Rose Garden

The new levies would correct years of ‘unfair’ trade during which other countries had been ‘ripping’ off the US,

Trump said

I have great respect for President Xi (Jinping) of China, great respect for China, but they were taking tremendous advantage,

he said