China urges US to cancel reciprocal tariffs, calls for mutual respect

India Today

China has urged the US to cancel its reciprocal tariff policy, saying that it breaks the international trade rules. The statement came from China's commerce ministry.

Transcript

00:00Big news coming in. China has urged the U.S. to scrap reciprocal tariffs.

00:05China has said that U.S. should completely cancel tariffs.

00:09China says that U.S. tariffs violate international trade rules

00:12and that U.S. should correct its tariff mistake.

00:17China has urged the U.S. to cancel its reciprocal tariff policy.

00:22That's the word coming in from the Chinese Commerce Ministry.

00:30Chetan is joining us for more on this.

00:33Chetan, is this a desperate plea from China as far as removal of tariffs is concerned?

00:41Well, you know, the United States should actually, you know,

00:45think about what's really happening in the picture

00:47because as what we hear from the latest report of the Commerce Ministry

00:51is that China is urging U.S. to cancel reciprocal tariffs

00:54because we see that the economical impact

00:58is what China is actually targeting against

01:00and of course, what U.S. is not understanding is what China is saying.

01:04In fact, if I may quote, the U.S. is actually, you know,

01:08wanting to have complete canceling the wrong practice

01:10and the reciprocal tariff is a high-right path of resolving differences

01:14to mutual respect and mutual dialogue.

01:16In fact, China's Ministry of Commerce has said recently

01:19that in response to the U.S. decision

01:21to exempt certain products from reciprocal tariff,

01:24the Ministry has actually issued a statement

01:26that China has noticed that this is the second adjustment

01:30to the relevant policies following the U.S. side's temporary suspension

01:34of high tariff on certain date part of the April 10th.

01:37But, you know, we've got to watch out as to what is happening.

01:40The issue is that China is ready to fight

01:43but is repeatedly telling America to back down

01:47and have a conversation instead of literally having a trade war

01:51because they understand that both the aspects of importers and exporters

01:56will be impacted if the conversations don't go through.

02:01So, clearly, the conversations between U.S. and America

02:03are strictly important but we need to watch out

02:06what the Indian importers and exporters stand to gain and benefit

02:10or provide it face a loss out of it.

02:13Thank you so much, Chetan, for sharing with us all those details.

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