China’s Foreign Ministry issued a statement on Saturday, asserting that “the market has spoken” in response to the U.S. administration’s latest round of sweeping tariffs. The ministry urged the White House to address the escalating trade conflict through “equal-footed consultation” with its trading partners.
This statement followed a sharp decline in U.S. stock markets on Friday, with all three major indexes falling more than 5% amid growing global economic concerns. The market downturn was further exacerbated when China’s Finance Ministry announced that it would impose a 34% tariff on all U.S. imports, effective April 10.
Beijing’s decision intensified fears among investors about the potential for inflation, recession, and broader global economic instability. The move has sparked increased anxiety about the ongoing trade war between the U.S. and China, as well as the global financial market’s vulnerability to such tensions.
“The market has spoken,” Chinese Foreign Ministry spokesperson Guo Jiakun stated in a Facebook post on Saturday. Guo, referencing the significant drop in U.S. stocks on Friday, described the trade and tariff measures initiated by the U.S. as “unprovoked and unjustified.”
Guo called on the U.S. government to resolve trade disputes through open and fair negotiations, emphasizing the importance of mutual respect in discussions between nations.
At the time of writing, a White House spokesperson had not responded to requests for comment from CNBC.
