U.S. President Joe Biden on Tuesday unveiled steep tariff increases on Chinese imports including electric vehicle (EV) batteries, computer chips and medical products, risking an election-year standoff with Beijing as he woos American voters who give his economic policies low marks.
China immediately vowed retaliation.
“This is the most typical form of bullying in the world today! It shows that some people in the United States have reached the point of losing their minds in order to maintain their unipolar hegemony,” Foreign Minister Wang Yi said, according to a statement published by state broadcaster CCTV.
“The U.S.’s suppression of China does not prove that the U.S. is strong, but rather exposes that the U.S. has lost its self-confidence and is out of order,” he said.
The U.S. move, instead of hindering China’s development, will inspire its 1.4 billion citizens to work harder, Wang said. “At this critical moment of global economic recovery, the international community should warn the United States not to cause new trouble for the world,” he said. Biden said China would probably raise tariffs in retaliation, possibly on unrelated products, but said the move was unlikely to lead to international conflict.