China Stands Firm Against US Tariff Proposals Amidst Trade Tensions

China has openly criticized the US Trade Representative’s proposal to levy additional tariffs on China and 59 other countries, allegedly due to forced labor practices. However, China showed openness to potential tariff reductions for non-sensitive products, welcoming diplomatic engagement. A statement by China’s Ministry of Commerce (MOFCOM) highlighted its firm stance against unilateral trade measures. It accentuated the creation of a ‘Board of Trade’ to facilitate talks on mutual tariff de-escalation, underscoring China’s commitment to maintaining stable US-China trade relations. The ongoing tension arises from the US signifying a 12.5% tariff under the Trade Act of 1974 on nations not…