In the wake of US President Donald Trump`s tariffs reaching 145 per cent, Chinese President Xi Jinping, in his first reaction, has called it `unilateral bullying`, urging Europe to stand with Beijing. Jinping made the remarks during his meeting with Spanish Prime Minister Pedro Sanchez, as he called upon the European Union to cooperate with China more closely to tackle the emerging trade tensions between the world`s two largest economies. Jinping urged the EU to "work together to safeguard economic globalization and the international trading environment", Xinhua reports.
In a latest development, China also raised the tariffs on US imports to 125 per cent from 84 per cent, as it remains the only country to take countermeasures against Trump`s tariffs.
Sanchez is on a visit to China amid the world undergoing a complex situation, with Trump unleashing tariffs on China.
The tariffs announced last week — and then paused — by US President Donald Trump could mean that the European Union pursues more trade with China, the world`s third-largest consumer market after the United States and the EU.
There is also growing concern in the EU about China flooding the bloc with discounted goods as a result of US tariffs, which would hurt European producers.
Spain initially received a 20% blanket tariff, which now stands lowered to 10% for most countries other than China for 90 days. Moreover, the EU also faces a US duty of 25% for cars, steel and aluminium.
