China says 'market has spoken' after US tariffs spark selloff

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BEIJING: China said on Saturday (Apr 5) "the market has spoken" in rejecting US President Donald Trump's tariffs, and called on Washington for "equal-footed consultation" after global markets' dramatic reaction to the trade levies, which drew Chinese retaliation.

The metals and chemicals traders' chamber said the tariffs "will push up the import cost for US importers and the consumption cost for consumers, exacerbate domestic inflation in the US, and increase the possibility of a US recession".

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

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Article Details

Category: EconomyBusiness

Markets: SingaporeCanadaChinaHong KongMexicoUnited States

Topics: Packages China United Trump Saturday Trade Tariffs Cent Levies Chinese Markets

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-05 @ 14:52:57 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 643 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 27597993

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