China to US: 'Market has spoken' after tariffs spur selloff

Antoni Slodkowski - Reuters - 05/04

China said on Saturday "the market has spoken" in rejecting U.S. President Donald Trump's tariffs, and called on Washington for "equal-footed consultation" after global markets plunged in reaction to the trade levies that drew Chinese retaliation.

Summary

China will continue to safeguard its sovereignty
China urges US to stop using tariffs to suppress China's economy
Chinese commerce groups aim to seek new markets, warn of US inflation
Global stock markets plunged

BEIJING, April 5 (Reuters) - China said on Saturday "the market has spoken" in rejecting U.S. President Donald Trump's tariffs, and called on Washington for "equal-footed consultation" after global markets plunged in reaction to the trade levies that drew Chinese retaliation.

State-run Xinhua news agency also published the Chinese government's stance, saying the U.S. should "stop using tariffs as a weapon to suppress China's economy and trade".

Hong Kong Financial Secretary Paul Chan told public broadcaster RTHK, however, Hong Kong would not impose separate countermeasures, citing the need for the city to remain "free and open".

"The market has spoken," Chinese foreign ministry spokesperson Guo Jiakun said in a post on Facebook on Saturday. He also posted a picture capturing Friday's falls on U.S. markets.

Trump introduced additional 34% tariffs on Chinese goods as part of steep levies imposed on most U.S. trade partners, bringing the total duties on China this year to 54%.

Trump also closed a trade loophole that had allowed low-value packages from China to enter the U.S. duty-free.

This prompted retaliation from China on Friday, in...
[Short citation of 8% of the original article]

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Source and Copyright images and texts: Antoni Slodkowski - Reuters
Original link, read full article here: https://www.reuters.com/world/china/china-us-market-has-spoken-after-tariffs-spur-selloff-2025-04-05/
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