Beijing: As US President Donald Trump hiked tariffs against China to 125 per cent while pausing levies on most countries, Beijing in retaliation has reduced the import of US films and called on Washington to return to fair dialogue without threats.
Meanwhile, a rare survey of Chinese public opinion highlighted growing concerns of the Chinese public over the impact of the trade war on their country.
The state-run China Film Administration said, “The US government’s erroneous practice of imposing excessive tariffs on China is likely to further diminish the Chinese audience’s favourable perception of American films.
“We will adhere to market principles, respect audience choices and moderately reduce the import volume of American films,” it said.
Separately, China’s Commerce Ministry spokesperson He Yongqian told a press briefing on Thursday that while Beijing remains open to talks, any dialogue must be based on mutual respect and conducted on equal footing.
If the US is bent on waging a trade war, China will fight to the end, He said.
“Pressure, threats and blackmail are not the right way to deal with China. We hope that the two countries will meet each other halfway and work towards resolving differences through dialogue and consultation, guided by the principles of mutual respect, peaceful coexistence and win-win cooperation,” He added.
Trump’s tariffs will affect over USD 438 billion in Chinese exports, while China has imposed tariffs on 84 per cent of USD 143 billion in US exports.
Earlier Chinese Foreign Ministry spokesperson Li Jian, while answering questions on Trump hiking the tariffs against China and whether Beijing will retaliate, said Beijing will not sit idle and won’t let Washington use tariffs as a weapon.
“Out of its selfish interests the US has used tariffs as a weapon to exhort maximum pressure to seek selfish gains,” Lin told a media briefing.
The US tariffs are “against the whole world”, he said, dispelling the impression that only China was targeted.
Taking countermeasures to oppose the US bullying moves is not only aimed at protecting our own sovereignty, security, and development interests but also safeguarding international fairness justice, multilateral trading system, upholding the common interests of the international community, Li said
“A just cause has the support of many. The US move doesn’t win the support of the people will end in failure,” he said.
While China put up a brave front, the Chinese public however appeared concerned over the impact of the tariff war on the already slowing down economy in a survey published by the the Hong Kong-based South China Morning Post on Thursday.
Wu Lang, 47, a private company executive in Shanghai said he was not worried about China’s survival as it had a large domestic market, a fairly complete industrial supply chain system and hard-working people.
“I’m concerned about development opportunities for ordinary Chinese people. The chance for my generation was globalisation. I don’t know what’s ahead for those young people in this new world when the China-US rivalry will just intensify,” he said.
A Beijing-based investment banker speaking on the condition of anonymity said she supported the government’s decision.
“In the short term, some sectors might take a hit, but in the long run, it’s about the greater good,” she said.
Imanda Zhao, 27, a marketing consultant in a European company in Beijing, said rising tensions between countries caused her to worry about a potential world war.
“It makes me really sad – free trade represents human progress, and what’s happening now feels like a step backwards for all of society,” Zhao said.
“It’s becoming increasingly clear that making money will get harder, with more lay-offs and pay cuts expected in China, and things are going to feel a lot more unstable,” she said.
Zhao said she might not fully agree with Beijing’s stern retaliation but understood it.
“I get the rationale behind it. China has always wanted to project national strength and avoid appearing weak in front of the US. Also, Trump is literally crazy – negotiating might just embolden him further.”
Wei Qingqing, 35, a programmer at a multinational company in Suzhou in the eastern province of Jiangsu, said he was mulling his employer’s relocation plan because the firm was selling its China business.
“This time it’s the tariff war. Next time there’ll be other punitive measures. China is set to be hit hard by US’ containment measures in the future. Maybe my best choice is going to a Southeast Asian country, such as Singapore, which is less hostile and shares cultural similarities,” Wei said.
Wang Youliang, 72, a retired factory worker in Shenyang in the north-eastern province of Liaoning, said he was prepared to “eat bitterness”, or endure hardship when his home country finds itself in adversity caused by the trade war.
“I know what difficulty means, after experiencing famines in the 1950s and the [decade-long] Cultural Revolution from 1966. When product prices are high, we can eat less and be thrifty. There’s always a way to make a living,” Wang said.
“Anyway, if the Communist Party wants us to spend more – as suggested in state media these days to offset export declines – I’m afraid it won’t work easily. We ordinary people don’t have money and don’t dare to spend,” he said.
Social media posts here said as the US tariffs kicked in many companies exporting goods to America asked their employees to go on unpaid leaves to assess the future scenario.
Hiking his levies against China on Wednesday, Trump said in a social media post, “Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125 per cent, effective immediately. At some point, hopefully, in the near future, China will realise that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable.”
