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Trump announces 10% tariffs on China, Beijing responds: ‘We will defend our interests’
The trade war enters a new phase with the introduction of tariffs by the US, as Europe prepares to respond
The new US president, Donald Trump, has declared his intention to introduce 10% tariffs on all goods from China as of 1 February. This move marks a further step in the escalation of the trade war between the two powers. Beijing was not slow to respond, reiterating its determination to defend its ‘national interests’. Chinese Foreign Ministry spokesman Mao Ning emphasised that ‘there are no winners in a trade war’ and assured that China will not give in to new pressures.
In the international context, Europe is also closely monitoring developments. The President of the European Central Bank, Christine Lagarde, gave a positive assessment of Trump’s initial approach of not imposing generalised tariffs, calling it ‘very smart’. According to Lagarde, duties do not always lead to the desired results, and the measures announced by the new US administration will be ‘more selective and targeted’. The ECB, therefore, is preparing a strategic response, anticipating future scenarios to best deal with economic repercussions.
In Davos, Switzerland, during the World Economic Forum, the European institutions also took a stand. Valdis Dombrovskis, European Commissioner for the Economy, announced that the Union would respond in a ‘proportionate’ manner to any decision that could damage its economic interests. Furthermore, European Commission President Ursula von der Leyen stressed that breaking the ‘ties’ that unite the global economy would not be in anyone’s interest. Competition between the world’s major economies is becoming more intense, with an increasing focus on key resources such as raw materials, advanced technology and trade routes.
The use of economic instruments, such as sanctions and tariffs, becomes increasingly frequent in this context of growing competition, aiming to protect economic and national security. The global landscape is rapidly evolving, and the response of the major economic powers will become crucial in the months to come.
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