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China criticised Trump's escalating tariff threats by quoting Ronald Reagan's 1987 speech warning against trade wars. As both nations raise tariffs, economic tensions rise, reviving Reagan's cautionary message.
The clip featured Reagan's warning that high tariffs often lead to harm economies.(Photo: X/@ChineseEmbinUS)
UPDATED: Apr 8, 2025 02:00 IST
In a sharp rebuke of President Donald Trump's tariff policies, China invoked the speech of former US President Ronald Reagan. Reagan's 1987 speech, warning against the perils of trade wars. The video resurfaced after the Chinese Embassy in the US shared the clip on social media platform X.
The clip featured Reagan's warning that high tariffs often lead to retaliation, increased trade barriers, and harm economies. China's move not only criticised Trump's approach but also underscored the enduring relevance of Reagan's words in today's global economic landscape.
In the video, Reagan, a Republican, stated, "High tariffs inevitably lead to retaliation by foreign countries and the triggering of fierce trade wars." He went on to describe the devastating consequences of such wars: collapsing markets, business shutdowns, and widespread job losses.
The embassy added that Reagan’s words from “1987 find new relevance in 2025.”
Trump warns China of 50% tariffs
Meanwhile, Trump on Monday threatened additional tariffs on China. “If China does not withdraw its 34% increase above their already long-term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th,” he wrote on Truth Social. “Additionally, all talks with China concerning their requested meetings with us will be terminated!”
Trump has announced that China would be hit with a 34% tariff, on top of the 20% he imposed earlier this year, bringing the total new levies to 54 percent.
China on Friday retaliated with levies of 34% on all US goods. These came on top of the 10-15% tariffs China levied in March and February, which had focused on agricultural and energy products imported from the US.
On Friday, China’s Ministry of Finance said the additional tariffs would be imposed from April 10. Beijing has previously imposed tariffs of 15 percent on imports of coal and liquefied natural gas (LNG) from the US in retaliation for Washington’s 10 percent levies on Chinese goods.
“China has taken and will continue to take resolute measures to safeguard its sovereignty, security, and development interests,” China’s Ministry of Foreign Affairs said in a statement on Saturday.
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Published By:
Satyam Singh
Published On:
Apr 8, 2025
