China’s Commerce Minister, Wang Wentao, has warned that the United States’ aggressive tariff policies could deal a heavy blow to developing and least developed nations.
According to a statement from the ministry released on Saturday, Wang conveyed this concern during a call with World Trade Organization (WTO) Director-General, Ngozi Okonjo-Iweala.
Tensions have been running high throughout the month as Washington and Beijing continue to exchange increasingly steep tariffs, stirring fears of a deepening trade conflict between the globe’s two biggest economies.
This escalating trade war has rattled global markets and prompted serious concerns among economists, who caution that strained US-China trade ties may fuel rising consumer prices and potentially lead to a worldwide recession.
“These US ‘reciprocal tariffs’ will inflict serious harm on developing countries, especially the least developed countries, and could even trigger a humanitarian crisis,” Wang said during the discussion.
He further criticized Washington’s tariff decisions, saying, “The United States has continuously introduced tariff measures, bringing enormous uncertainty and instability to the world, causing chaos both internationally and domestically within the US.”
In response to Washington’s 145 percent tariffs on Chinese imports, Beijing confirmed it would implement a 125 percent tariff on US goods starting Saturday.
However, Chinese officials signaled that they may disregard any additional duties imposed by President Donald Trump, arguing that it no longer makes financial sense for businesses to continue sourcing from the United States.
Additionally, China announced plans to file a formal complaint with the WTO over the latest tariff hikes and dismissed Trump’s tough rhetoric as nothing more than a “joke” and a “numbers game.”
The ongoing tit-for-tat measures have thrown financial markets into turmoil, stock prices have become volatile, gold has surged, and US government bonds have come under pressure.
The scale of trade between the two countries remains enormous. Chinese exports to the United States amounted to over $500 billion last year, accounting for 16.4 percent of China’s total exports, according to customs figures from Beijing.
Despite the growing economic tension, President Trump on Friday defended his tariff approach, claiming it was “doing really well,” even in light of China’s retaliatory steps.
Earlier in the week, Trump postponed additional tariffs on several other countries for a 90-day period after witnessing a major market selloff that erased trillions in global value.
The White House reiterated his confidence in a positive outcome, noting that negotiations were still ongoing with Beijing and that 15 other nations also have active trade proposals during the tariff reprieve.
Tariff Dialogue with Taiwan
Meanwhile, Taiwan’s government announced Saturday that it had opened initial tariff discussions with US officials, with hopes of building “strong and stable” trade relations.
President Lai Ching-te revealed on Friday that Taiwan had made it onto the US government’s “first negotiating list” as the island works to protect its exporters from a looming 32 percent duty.
Currently facing a 10 percent tariff, Taiwan is aiming to secure a deal with Washington that would reduce the rate to zero. According to the Office of Trade Negotiations, Taiwanese and US representatives held a video meeting on Friday to address reciprocal tariffs, non-tariff barriers, and other issues such as export controls.
Taiwan maintains the seventh-largest trade surplus with the United States, amounting to $73.9 billion in 2024. Roughly 60 percent of Taiwan’s exports to the US consist of information and communications technology products, primarily semiconductors, though notably, these chips were not included in Trump’s latest tariff list.
